Many economists believe that the U.S. tax system would be made more efficient if the basis of taxation were changed so that people paid taxes, more so than they do now, based on their
a. saving rather than their income.
b. spending rather than their income.
c. income rather than their wealth.
d. wealth rather than their spending.
b
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The U.S. government has accumulated a net national debt of almost 60% of GDP. Compared to other countries, this is:
a. smaller than that of many fiscally healthy countries b. larger than that of many fiscally healthy countries c. about the same as that of troubled debtor nations d. larger than that of troubled debtor nations
Which is not an example of pollution?
A. Automobile exhaust B. Aircraft jet engine noise C. Municipal treatment plant wastes D. Zero-emission electric cars
The intersection of the labor market supply and market demand curves establishes the minimum wage.
Answer the following statement true (T) or false (F)
When the government finances a shovel-ready project through taxes or borrowing, this will result in
A) lower taxes or interest rates, which will reduce private sector employment. B) lower taxes or interest rates, which will increase private sector employment. C) higher taxes or interest rates, which will reduce private sector employment. D) higher taxes or interest rates, which will increase private sector employment.