Economists disagree on whether labor taxes cause small or large deadweight losses. This disagreement arises primarily because economists hold different views about
a. the size of labor taxes.
b. the importance of labor taxes imposed by the federal government relative to the importance of labor taxes imposed by the various states.
c. the elasticity of labor supply.
d. the elasticity of labor demand.
c
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Seignorage is the revenue a government raises by
A) taxation. B) printing money. C) borrowing money. D) charging fees for services.
A major diversion that is not of the income flow to the private sector is
A. Investment. B. Wages. C. Indirect business taxes. D. None of the choices are correct.
The national debt
A. is increased by budget surpluses. B. is the value of the government’s indebtedness at a moment in time. C. exceeded $20 trillion in 2014. D. all of the above are correct.
Briefly discuss new growth theory
What will be an ideal response?