When a nation has a comparative advantage in the production of a particular good
A) the nation tends to avoid specialization.
B) the comparative advantage encourages self-sufficiency.
C) the opportunity cost of producing that good is higher than that of other goods.
D) the nation can gain from trade.
D
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What are tax loopholes and what are their effects?
What will be an ideal response?
High military spending has _____ the economic growth of LDCs.
Fill in the blank(s) with the appropriate word(s).
Some politicians argue that reducing the corporate income tax will increase business investment spending.
Answer the following statement true (T) or false (F)
A tax is imposed on employers and workers that are used to fund Social Security and Medicare. This tax is sometimes referred to as
A) the federal income tax. B) the Income Security Tax. C) the payroll tax. D) the ACIF.