As a possible approach to eliminating the government budget deficit, increasing taxes on the rich only would
A. lead to a greater number of entitlements.
B. not lead to a significant increase in tax revenues.
C. lead to a significant increase in tax revenues.
D. lead to an increase in real GDP.
Answer: B
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When a firm with market power practices third-degree price discrimination, it charges the highest price to the group that
a. has the most elastic demand. b. has the most inelastic demand. c. purchases the highest quantity. d. purchases the lowest quantity.
A statement that is often used to describe demand-pull inflation is ________.
A. "Too much money chasing too few goods." B. "A rising tide lifts all boats." C. "Money is easily earned, but not easily saved." D. "There is no such thing as a free lunch."
A debit card differs from a credit card in that
A) a debit card is a loan while for a credit card purchase, payment is made immediately. B) a debit card is a long-term loan while a credit card is a short-term loan. C) a credit card is a loan while for a debit card purchase, payment is made immediately. D) a credit card is a long-term loan while a debit card is a short-term loan.
The job market for which group always seems to have higher unemployment than the labor force as a whole? Why?