Revenue for the state governments in the United States comes primarily from income taxes
a. True
b. False
B
You might also like to view...
Absent any violations of the conditions underlying the first welfare theorem, the competitive market equilibrium is efficient if and only if tastes are quasilinear.
Answer the following statement true (T) or false (F)
Surpluses cause prices to fall while shortages cause prices to rise
a. True b. False Indicate whether the statement is true or false
Politicians and economists who are generally conservative tend to believe that
a. the self-correcting mechanism is slow and unpredictable. b. the short-run Phillips curve is relatively steep. c. the costs of unemployment are high. d. expectations in reaction to policy measures are very slow to change.
Hal is the CEO of a firm with a monopoly on a gadget used by kayakers. Hal sells about 200,000 of his products annually, but he would like to make twice that amount available at the same price, hoping to double his income. If we look at the demand curve for Hal’s firm, what will happen as he produces twice as many products?
a. The curve will become vertical. b. The curve will slope upward. c. The curve will slope downward. d. The curve will remain horizontal.