Special tax treatment given to specific types of behavior are called
a. tax avoidance.
b. tax evasion.
c. tax loopholes.
d. tax burden.
c
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A firm uses workers and seed to grow lettuce. Its lettuce output rises from 100 tons to 200 tons when the number of workers increases from 25 to 75. Its production process shows
A. decreasing returns to scale. B. diminishing returns to labor. C. increasing long-run average cost. D. decreasing short-run average variable cost.
One of President Obama's first fiscal policy initiatives was a. ARRA. b. TARP
c. QE1. d. QE2.
The current rate of unemployment is 5 percent. This statement:
A) is positive. B) is normative. C) involves a value judgment. D) is a personal reflection and has no value in economics.
Over the past 25 years, child mortality has ________ and literacy has ________ in developed countries.
A. fallen; fallen B. risen; risen C. fallen; risen D. risen; fallen