The 2002 tax reform is a good example of special interests being less influential because Congress was considering comprehensive tax reform
a. True b. False
b
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A statement of assets and liabilities of any business entity is
A) a sweep account. B) legal reserves. C) a balance sheet. D) net worth.
In comparing the magnitudes of the components of GDP according to the expenditure approach, we see that in the United States
A) government expenditure on goods and services is the largest category. B) investment is the largest category. C) investment is much larger than government expenditure on goods and services. D) investment is less than government expenditure on goods and services. E) investment, government expenditure on goods and services, and consumption expenditure are all about the same size.
The minimum amount that investors must earn on the funds they invest in a firm, expressed as a percentage of the amount invested, is referred to as
A) the explicit costs of production. B) net income. C) net worth. D) a normal rate of return.
Horizontal and vertical demand curves
A) have constant elasticities. B) are not possible in the real world. C) have elasticities that change with price. D) cannot have their elasticities computed using the point method.