If the federal government replaced the current income tax with a value-added tax
A) the prices of Treasury and municipal bonds would rise.
B) the prices of Treasury and municipal bonds would fall.
C) the prices of Treasury bonds would rise, while the prices of municipal bonds would fall.
D) the prices of Treasury bonds would fall, while the prices of municipal bonds would rise.
C
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In 2007, Singapore's government ran a budget surplus of $4.5 billion. The budget surplus ________ loanable funds and ________ the real interest rate
A) increased the supply of; lowered B) decreased the demand for; lowered C) increased the supply of; raised D) increased the demand for; raised
Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $5, what is the value of marginal product of the 4th worker?
A) $300 B) $50 C) $70 D) $10
Refer to Figure 11-1. Within a country, the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from
A) C to A. B) A to B. C) B to A. D) B to C.
If Jen earns $80,000 a year and pays $16,000 in taxes, and Gary earns $100,000 a year and pays $16,000 a year in taxes, the tax system must be:
A. flat. B. proportional. C. progressive. D. lump-sum.