According to dynamic tax analysis, will continuing to push up the tax lead to steady increases in tax revenues? Why?
What will be an ideal response?
In dynamic tax analysis, the tax base will eventually decline for ever-higher tax rates. This means that tax revenues will eventually fall at sufficiently high tax rates.
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In 2015, Smileytown consumed 50,000 tubes of toothpaste. In 2016, toothpaste consumption rose to 62,000 tubes. Calculate the percentage change in toothpaste consumption
A) 12% B) 16.42% C) 19.35% D) 24%
If a country has lower overall productivity levels than its trading partners, then it will
A) be unable to export. B) have a trade deficit. C) not be able to obtain gains from trade. D) have a lower standard of living than its trading partners. E) All of the above.
Governments usually accept goods inflation as long as it stays low, which for the United States currently means around:
A. 5.5 to 6 percent. B. 3.5 to 4 percent. C. 1 to 2.5 percent. D. 7.5 to 8 percent.
When comparing the measure of goods and services of one country to that of another, economists generally compare:
A. the real GDP. B. the real GDP per capita. C. the real GDP and net exports. D. the real GDP and the labor force.