Which of the following uses of tax revenues collected by the government leads to increased capital deepening in the United States?
A. providing food to a nation suffering from a famine
B. foreign aid given to Mexico to build new schools
C. higher salaries for members of Congress
D. subsidizing airport construction in Seattle
Answer: D
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Refer to Table 2-16. Estonia has a comparative advantage in the production of
A) cell phones. B) both products. C) lumber. D) neither product.
Tax laws do not give preferential treatment to some kinds of retirement saving
a. True b. False Indicate whether the statement is true or false
Historically, real income per person:
A. barely changed at all until the 1800s but began to increase after. B. barely changed at all until the 1500s but began to increase after. C. has steadily increased at an average rate of 2 percent D. has barely changed at all worldwide.
Which statement best defines producer surplus?
a. the amount that a seller would have liked to have charged, minus the amount that they actually received b. the amount that a seller is paid for a good minus the seller’s actual cost c. the amount that individuals would have been willing to pay, minus the amount that they actually paid d. when it is impossible to improve the situation of one party without imposing a cost on another