A primary criticism of preferential tax treatment of dividends and capital gains is:
A) there is not a double taxation of dividends
B) it adversely affects the distribution of after-tax income
C) there is no locked-in effect resulting from taxation of capital gains
D) it does not have any impact on efficiency
B
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The benefit to the firm from hiring one additional worker is called the
A) marginal revenue product of labor. B) total revenue. C) marginal profit. D) marginal revenue.
A balanced budget occurs when
A) the national debt is reduced to zero dollars. B) a budget deficit during one year is matched by a budget surplus in the next year. C) transfer payments equal tax revenues. D) government expenditures equal tax revenues. E) the deficit-GDP ratio equals one.
The addition of the capital budget deficit and the current budget deficit results in the:
(a) General government deficit. (b) Exchequer capital expenditure. (c) Exchequer borrowing requirement. (d) None of the above.
A particularly severe or protracted recession is called a(n):
A. peak. B. expansion. C. boom. D. depression.