Which of the following is true of refundable tax credits?
A. They included Child Tax Credit but not Earned Income Tax Credit.
B. They resulted in a decrease in tax filings while population increased during the 1980s.
C. They led to a decrease in the number of income-tax returns filed during the 2000s.
D. They increased the number of low-earning households filing tax returns.
Answer: D
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Gross domestic product is a measure of the total value of all
A) sales in an economy over a period of time. B) consumer income in an economy over a period of time. C) capital accumulation in an economy over a period of time. D) final goods and services produced in an economy over a period of time.
Refer to Figure 9-5. As a result of the tariff, domestic producers increase their quantity supplied by
A) 6 million pounds of coffee. B) 18 million pounds of coffee. C) 26 million pounds or coffee. D) 38 million pounds of coffee.
Two types of costs must be considered when selecting the optimal decision rule. They are _____ and _____
a. decision-making costs; external costs b. marginal costs; variable costs c. decision-making costs; political costs d. political costs; external costs
Another term for intermediaries who specialize in reducing transaction costs is
A) service providers. B) consultants. C) middlemen. D) revenue agents.