Which of the following tax systems is the most efficient based on the amount spent to collect $100 in taxes?
a. United Kingdom
b. Japan
c. Canada
d. United States
e. Russia
D
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Which of the following best describes the inflation rate in the United Kingdom in 1975?
a. 8% b. 15% c. Almost 25% d. More than 25%
The extremely low savings rate in the United States has forced us to borrow almost $____ billion a day to finance our federal budget deficit and trade deficit.
A. 1 B. 2 C. 3 D. 4
If a potato farmer expands output, he finds that the increase in total revenue is less than the increase in total costs. This means that:
A. profit is being maximized. B. he should not have expanded output. C. he should produce even more output. D. the firm is wasting resources.
Which of the following is illustrated by the distance between the aggregate expenditure line and the 45-degree line at each level of real GDP?
a. The level of saving in an economy b. Unplanned inventory change c. Planned investment undertaken in an economy d. The marginal propensity to save e. The marginal propensity to consume