Which of the following is an example of a progressive tax?
a. The federal personal income tax
b. The federal tax on gasoline
c. All of the answers are correct.
d. The excise tax on cigarettes
a
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Suppose farmers in a given market can either grow soy beans or corn on their land. In addition, suppose an increase in the demand for corn causes the price of corn to increase. As a result of the increase in the price of corn, farmers who were already growing corn will earn an:
A. economic loss in the short run. B. economic profit in the long run. C. economic loss in the long run. D. economic profit in the short run.
In the presence of compensating wage differentials, explain why the consumption possibility frontier is not a good approximation of the utility possibility frontier.
What will be an ideal response?
Bank reserves include
A) vault cash and loans to bank customers. B) vault cash and deposits with the Federal Reserve. C) customer checking accounts and vault cash. D) deposits with the Federal Reserve and holdings of securities. E) loans to bank customers and deposits with the Federal Reserve.
Explain what market signaling is?
What will be an ideal response?