Among industrialized economies, taxes as a percentage of GDP are lowest in:
a. The Four Tigers
b. Germany and France
c. The United States
d. Australia and New Zealand
e. None of the above
A
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What is Moore's Law?
What will be an ideal response?
Under monopolistic competition
A. there is no distinction between the short run and the long run. B. there are very few firms in the industry. C. all the firms produce an identical product. D. each firm breaks even in the long run.
Total government spending (federal, state, and local) sums to approximately:
A. 10 percent of the U.S. economy. B. 20 percent of the U.S. economy. C. 40 percent of the U.S. economy. D. one-half of the U.S. economy.
Easy entry of new firms is not a characteristic for ________ industries.
A. oligopolistic and monopolistic B. monopolistic and perfectly competitive C. monopolistically competitive and oligopolistic D. perfectly competitive and monopolistically competitive