Turnover taxes are inefficient because _____
a. they are easy to avoid
b. they violate the ability-to-pay principle
c. they violate the benefit principle
d. they tax the same good multiple times
d
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Refer to the scenario above. If the starting bid is $250, ________ will win the auction and will have to pay ________ for the painting
A) Bob; $250 B) James; $400 C) Rachel; $450 D) Joe; $400
Other things remaining the same, the greater the expected profit
A) the less the amount of investment. B) the greater the amount of investment. C) the steeper is the investment demand curve. D) the flatter is the investment demand curve.
A rise in six-month LIBOR is good news to __________ in a swap contract
A) the fixed-rate payer B) the floating-rate payer C) both payers D) neither payer
Which of the following will most likely occur as the result of an unanticipated increase in aggregate demand that pushes output beyond long-run capacity?
a. an increase in the natural rate of unemployment b. an increase in the real interest rate c. a decrease in the real interest rate d. a decrease in the general level of prices