An efficient tax is one that raises the desired tax revenue but creates the least possible
A. total burden.
B. excess burden.
C. tax incidence.
D. tax shifting.
Answer: B
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In a two-period model with default, if the nation defaults on its debts in the future period
A) there are no consequences. B) it bears a cost v. C) collateral is seized. D) it faces a higher interest rate.
Which of the following will NOT shift the MRP curve for labor?
A) a change in the productivity of labor B) a change in the price of the product being sold C) a change in the wage rate in the market D) a change in the demand for the product being produced
Historically, consumption spending in the United States has _____
Fill in the blank(s) with the appropriate word(s).
Which of the following is a statement with positive economic analysis?
A. Lower wages increase employment and reduce the unemployment rate. B. A reduction in the size of the budget deficit will reduce interest rates. C. Slower money growth reduces inflation. D. All of these