A tax system with little deadweight loss and a small administrative burden would be described as
a. equitable.
b. communistic.
c. capitalistic.
d. efficient.
d
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A new model of a racecar manufactured in Germany sells successfully in China. This will cause the:
a. euro to appreciate against the Chinese Yuan. b. euro to devaluate against the Chinese Yuan. c. Chinese Yuan to appreciate against the euro. d. Chinese Yuan to devaluate against the euro.
Table 13.1XYZ Bank Balance SheetAssetsLiabilitiesTotal reserves$100,000Transactions accounts$400,000Loans300,000??Refer to Table 13.1. With a required reserve ratio of 20 percent, XYZ Bank could support maximum transactions account balances of
A. $20,000. B. $500,000. C. $300,000. D. $80,000.
In 1789, the average American paid approximately what percent of income in taxes?
a. 5% b. 15% c. 33% d. 50%
Because taxes distort incentives, they typically result in
a. deadweight losses. b. reductions in consumer surplus. c. reductions in producer surplus. d. All of the above are correct.