Refer to the above table (figures in billions). The nominal GDP for 2020 is
A. $4819.6 billion.
B. $4091.3 billion.
C. $5677.5 billion.
D. uncertain without more information.
Answer: C
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All taxes carry which of the following costs?
A. Time in creating procedures for collecting revenues B. Enforcing tax payments C. Managing collected funds D. All taxes incur all of these costs.
The classic example of a detrimental externality is
A. education. B. pollution. C. discovery of an AIDS vaccine. D. Mrs. Lewis’ prize-winning rose garden.
According to the textbook, if the government had taxed everyone who earned more than $1 million an income tax rate of 100 percent in 2012, the budget deficit for that year would have been completely eliminated
Indicate whether the statement is true or false
Real planned investment spending is inversely related to
A) wealth. B) the interest rate. C) real disposable income. D) producer expectations of future profit.