In 2015, federal taxes on alcohol raised approximately

A. $1 billion.
B. $110 billion.
C. $3 billion.
D. $10 billion.


Answer: D

Economics

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Which of the following is not a reason for the Ricardian equivalence theorem to fail to hold?

A) tax distortions B) people can borrow from the government. C) finite-lived people. D) credit market imperfections.

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Commitment devices are:

A. mechanisms that allow people to voluntarily restrict their choices in order to make it easier to stick to plans. B. socially institutionalized practices that signal a particular commitment has been made by a person. C. policies that force participants to choose their future commitments. D. None of these statements is true.

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A share of stock represents a claim on the

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