The Continental Congress faced several constraints in its effort to finance the Revolutionary War. The largest source of funds for the War was:
a. excise taxes.
b. domestic bond sales.
c. borrowing from foreign powers, such as France.
d. printing money.
d. printing money.
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Explain the factors that determine the incidence of the payroll tax. Illustrate your answer using graphs
In the United States, who bears most of the payroll tax employers or workers? Why? (Hint: draw two separate supply and demand curves for labor. Show one with a relatively elastic supply for labor and one with a relatively inelastic supply).
The country in which a form of industrial organization in which a group of companies own stock in each other and has a bank that owns stock in each firm is
A) the United Kingdom. B) the United States. C) Japan. D) Germany.
The supply curve illustrates that firms:
A. decrease the supply of a good when its price rises. B. increase the quantity supplied of a good when its price rises. C. increase the supply of a good when its price rises. D. decrease the quantity supplied of a good when input prices rise.
A budget constraint shows
A. all of the possible combinations of goods that can be purchased with a specific budget. B. all of the combinations of sets of goods that yield the same level of satisfaction. C. all of the goods the consumer gets positive marginal utility from when the goods are consumed. D. all of the goods that a consumer substitutes for other goods when prices fall.