Spending on items other than consumption represents about what percent of total output of goods and services?
A. 20 percent
B. 30 percent
C. 40 percent
D. 60 percent
Answer: B
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Which of the following statements concerning the federal corporate income tax is true?
A) It is an efficient tax because it imposes a small excess burden relative to the tax revenue it raises. B) The corporate income tax is an example of the benefits-received principle. C) The incidence of the corporate income tax can be determined by using demand and supply analysis. D) Determining the incidence of the corporate income tax is complicated because it is not certain how corporations respond to the tax.
Since there are no close substitutes for the monopoly's product, the monopoly can charge any price it wishes
Indicate whether the statement is true or false
Crowding out occurs when the federal government:
a. raises taxes to finance a budget deficit. b. refinances maturing U.S. Treasury bonds. c. borrows by selling bonds to finance a deficit. d. uses a budget surplus to pay off part of the national debt.
If income redistribution policy is based on the relative concept of poverty, the war on poverty
a. will be won quite soon. b. is, by definition, unwinnable. c. has not helped at all. d. has already been won.