The administrative burden of a tax is:
A. the difference between the revenues generated from the tax and the cost of the government program it is supposed to fund.
B. what portion of the revenues come from the government.
C. what portion of the revenues come from the producers versus the consumers.
D. the logistical costs associated with implementing a tax.
D. the logistical costs associated with implementing a tax.
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
A ________ is a final good and ________ is an intermediate good
A. new car bought by a student; a used SUV bought by a dealer B. new textbook; used textbook C. new iPhone bought by a student; new computer bought by Wal-Mart D. tank of gasoline bought by you; jet fuel bought by Southwest Airlines
The Federal Reserve System has a network of how many Federal Reserve Banks?
A) 12 B) 36 C) 50 D) 84
What arguments have been advanced in defense of price discrimination?
What will be an ideal response?