In which of the following tax systems do taxes increase as income increases?
a. both proportional and progressive
b. proportional but not progressive
c. progressive but not proportional
d. neither proportional nor progressive
a
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Which of the following would lead GDP to overstate economic welfare?
A) the existence of home-cooked meals B) restaurant workers that under-report tip income C) a self-employed CPA who takes a longer than normal vacation D) electric utilities that switch to burning coal because of higher natural gas prices and thereby create more acid rain pollution
A country that experiences higher real interest rates than other countries would expect its currency to depreciate
Indicate whether the statement is true or false
As the dollar price of the Mexican peso falls, the __________ Mexican goods will be for Americans to purchase and the __________ Mexican goods Americans will buy; thus __________ pesos will be demanded
A) less expensive; more, more B) more expensive; fewer, fewer C) more expensive; more, fewer D) less expensive; more, fewer E) none of the above
A uniform-abatement policy is:
A. inefficient because it does not exploit the differences in abatement costs among firms. B. efficient because an equal amount of pollution is assigned to each firm. C. inefficient because it incurs relatively low compliance costs. D. efficient because it helps firms lower their production costs.