Which of the following tax cuts lowered the top marginal tax rate to 28 percent?
A. The Kemp-Roth Tax Cut of 1981
B. The Tax Reform Act of 1986
C. The Tax Cut of 1993
D. The Tax Cut of 2001
E. The Tax Cut of 2003
B. The Tax Reform Act of 1986
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What role can the government play in correcting problems of imperfect information?
What will be an ideal response?
The value of a producer's output minus the value of all intermediate goods used in the production of that output is called the producer's
A) net output. B) accounting profit. C) value added. D) profit margin.
If the supply of oranges is unit elastic, the price elasticity of supply of oranges is
A. 1.0. B. 0.0. C. -1.0. D. -100.0.
A home buyer is presented with two options for financing the purchase of a home: a 20 year fixed rate mortgage or a 20 year adjustable-rate mortgage, where the rate adjusts once a year. Which mortgage would you expect to start at the lowest interest rate and why?
What will be an ideal response?