A flat tax which does NOT allow for deductions or credits is essentially a tax on
A) education. B) income.
C) consumption. D) government expenditures.
B
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The above table shows some national income accounting data for a nation. In this nation, gross domestic product is equal to ________ billion
A) $2,000 B) $2,300 C) $2,500 D) $2,800
In order for a monopolist to earn a pure economic profit in short-run equilibrium, price must exceed average total cost
a. True b. False Indicate whether the statement is true or false
A group of musicians performing at a concert for charity in New York is an example of a cluster in economics
a. True b. False Indicate whether the statement is true or false
A demand curve shows the relationship between price and quantity demanded, "other things remaining constant." The other things that remain constant include all of the following except the: a. price of the product
b. price of complementary products. c. price of substitute products. d. number of consumers in the demographic group purchasing the product.