Which economist argued that high tax rates can produce less tax revenues?
a. Robert Ferber
b. A. W. Phillips
c. Alex Maxwell
d. Frantisek Bass
e. Arthur Laffer
E
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An increase in the interest rate tends to increase the demand for loanable funds
a. True b. False
If the total utility for eating up to five $2.00 hamburgers is 40, 60, 70, 75, 70, respectively, which of the following is true?
a. A rational consumer would choose to eat five hamburgers at the price of $2.00 b. A rational consumer would choose to eat five hamburgers only if the price was reduced to $1.00. c. A rational consumer would choose to eat five hamburgers only if the 5th hamburger as free. d. A rational consumer would have to be compensated to eat the 5th hamburger.
A quota represents
A) A combination of ad valorem and specific tariffs. B) A quantitative restriction on the amount of good that may be imported. C) A compromise between taxpayers and consumers. D) None of the above.
If Fred's marginal utility of pizza equals 10 and his marginal utility of salad equals 2, then
A) he would give up 5 pizzas to get the next salad. B) he would give up 5 salads to get the next pizza. C) he will eat five times as much pizza as salad. D) he will eat five times as much salad as pizza.