Most state revenue comes from the _____ tax and most local revenue comes from the _____ tax.
A. property; property
B. sales; sales
C. sales; property
D. property; sales
C. sales; property
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The figure above shows the market for milk in Cowland. If a subsidy paid to producers of $1 per gallon of milk is introduced, how many gallons are sold per year?
A) 200 million B) 400 million C) 300 million D) more than 300 million but less than 400 million
You are an economic advisor to the president. You are asked to recommend a policy to promote long-term economic growth in the economy. Which of the following policies would you choose?
A) a reduction in taxes on luxury yachts B) an investment tax credit C) a reduction in sales taxes D) all of the above
The prevailing view of globalization is that it brings
a. coercive powers which tend to have a negative effect on developed nations. b. both significant opportunities and dangers. c. mostly dangers such as economic competition and unemployment to developing nations. d. mostly economic opportunities to both developed and developing nations.
Despite the fact that the Quick-Buzz Coffee Company provides a coupon in the local newspaper that can be redeemed for $1 off the price of its best-selling coffee beans, not all buyers actually use the coupon. Assuming everyone has a subscription to the newspaper, from this we know that:
A. the coffee drinkers who use the coupons have more elastic demand than the coffee drinkers who pay full price. B. the coffee drinkers who use the coupons have less elastic demand than the coffee drinkers who pay full price. C. all coffee drinkers have a highly inelastic demand. D. all coffee drinkers have a highly elastic demand.