The courts in some states have declared the financing of public schools by local property taxes unconstitutional because
A. housing should never be the basis for taxation of any kind.
B. taxes on real estate generate too much tax revenue.
C. disparity in property values means some communities have more in tax revenues to spend on education than do communities containing less valuable property.
D. the funds for public education should come from federal revenues, not from local property taxes.
Answer: C
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What is the domestic price of sugar in a closed economy? 
A. $3,000/ton B. $1,000/ton C. $2,000/ton D. $500/ ton
Comparing the United States economy in the 1920s with the economy in the 1990s, all of the following were similar EXCEPT
A. both decades had strong economic expansion. B. both decades had soaring stock markets. C. both decades had rapid technological progress. D. both decades had the federal government take a laissez-faire approach to the economy.
As a result of the open market sale, Jekyll Bank
A) can create $50,000 of new loans. B) will have $45,000 of excess reserves. C) will have to borrow reserves to replenish its reserve deficiency. D) will have an increase in checkable deposits.
Potential real GDP in an economy is
a. the level of production that occurs if there's no cyclical unemployment. b. the amount an economy can produce if every man, woman, and child is employed. c. the level of production that occurs if all unemployment is cyclical and structural. d. the level of production that occurs if the unemployment rate is zero.