Which of the following is a significant change in public policy in the U.S. since the 1980s?
A. Significant decrease in property tax rates
B. Decline in tax rates on capital gains
C. Increase in tax rates on carried interests
D. Significant increase in inheritance tax rates
Answer: B
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Is monopolistic competition efficient? Explain. What is Edward Chamberlin's view about the efficiency of monopolistic competition?
What will be an ideal response?
If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25, what is its average cost?
a. $100 b. $20 c. $65 d. $32
If Marginal cost is lower than Average Cost (AC), average cost is
a. falling b. rising c. constant d. none of the above
Thomas Malthus's model made the mistake of failing to consider:
A. technological progress. B. inflation. C. comparative advantage. D. scarcity.