Assume that there is a proposed tax cut by the U.S. House of Representatives. A problem is
a. how to distribute the benefits of the total tax cut among different groups within the country.
b. that the process occurs very quickly without much time to study any negative effects.
c. that tax cuts are harder to implement than tax increases.
d. that the Federal Reserve has almost invariably been in favor of moderate tax increases rather than tax cuts.
e. this statement is wrong, as tax bills originate in the U.S. Senate.
A
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Increase in consumer confidence will ________ the expenditure curve:
A) decrease. B) increase. C) down. D) none of the above.
The policies of the U.S. Federal Reserve probably helped to cause ________
A) the long contraction of the 1870s B) the severe recession of the 1890s C) the recession in 1918-1919 D) all of the above E) none of the above
The most common reason for the existence of oligopolies is
A) ease of entry. B) economies of scale. C) diseconomies of scale. D) advertising.
Economists who have studied economic growth find strong evidence of convergence.
Answer the following statement true (T) or false (F)