Refer to the information provided in Figure 32.1 below to answer the question(s) that follow.
Figure 32.1Refer to Figure 32.1. A decrease in tax rates will definitely decrease tax revenue if the economy is at a point such as ________ on the Laffer Curve.
A. A
B. B
C. C
D. both A and B
Answer: D
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Which of the following is NOT directly included in U.S. GDP?
A) sales to tourists of beach umbrellas in Hilton Head, South Carolina B) ticket sales to Ripley's Aquarium in Gatlinburg, Tennessee C) sales of sandwiches at a Subway store in Bangor, Maine D) popcorn purchased by a movie theater chain in Georgia E) movie tickets purchased by consumers in Georgia
The incentive structure is a
A) system of rewards and punishments that individuals consider when making decisions. B) system determined by the federal government that gives certain states more federal funds. C) system of infrastructure in the United States that improves commerce. D) system of checks and balances in the government.
Which of the following is most likely to reduce structural unemployment?
a. A reduction in wage rates b. Access to better information on local job openings c. Retraining workers in marketable skills d. Promotion of full employment through government stabilization policies e. Reducing the cost of job loss through enhanced unemployment benefits
Consider the hypothetical supply and demand of Kidneys.
Suppose Kidneys cannot be sold, only donated (price is zero). How many kidneys are donated in this hypothetical situation?
A. 2000 B. 900 C. 0 D. 1200