The bulk of federal budget receipts come from ______
a. individual income taxes
b. social insurance revenues
c. corporation income taxes
d. excise taxes
a
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The data in the above table show that the economy will be in a short-run macroeconomic equilibrium at a price level of
A) 90. B) 110. C) 100. D) 120.
In the above figure, if the price is equal to $50, there is
A) a surplus of 200 units. B) a shortage of 100 units. C) an excess quantity demanded of 50 units. D) an inadequate supply of 100 units.
Along a straight-line production possibilities curve:
a. the opportunity cost of production of a good is zero b. the opportunity cost of production of a good falls as its output increases. c. the opportunity cost of production of a good rises as its output increases. d. the opportunity cost of production of a good is constant.
Comparative advantage is related most closely to which of the following?
a. output per hour b. opportunity cost c. efficiency d. bargaining strength in international trade