Being penalized via taxes for making more money in dollars even though your purchasing power hasn't changed at all is called:
A. tax distortion.
B. shoe-leather costs.
C. menu costs.
D. the velocity of inflation.
A. tax distortion.
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A profit-maximizing monopolist will stop production while MR is still greater than MC
a. True b. False Indicate whether the statement is true or false
Many economists believe that a family bases its spending decisions on its permanent, or average, income rather than on transitory income
a. True b. False Indicate whether the statement is true or false
If the world price is higher than the no-trade domestic price, then domestic producers gain, and domestic consumers lose as a result of free trade.
Answer the following statement true (T) or false (F)
Which of the following is NOT true of the Uruguay Round of the multilateral trade negotiations?
A. The Uruguay Round initiated a process of liberalizing trade in services. B. The Uruguay Round included agreement requiring member countries to provide minimum levels of ownership protection for intellectual property. C. The Uruguay Round agreements began a process of liberalizing trade in agricultural products. D. The Uruguay Round narrowed down the set of nontariff barrier (NTB) codes as set up by the Kennedy Round and the Tokyo Round.