A general sales tax and a value-added tax have _____
a. a common tax base
b. nothing in common
c. rates in common
d. investment as a tax base
e. a and d
a
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Refer to Figure 7-2. 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.
An example of ad valorem taxation is
A) a luxury tax. B) the corporate profit tax. C) the personal income tax. D) the Social Security tax.
When the interest rate is above the equilibrium level,
a. the quantity of money that people want to hold is less than the quantity of money that the Federal Reserve has supplied. b. people respond by buying interest-bearing bonds or by depositing money in interest-bearing bank accounts. c. bond issuers and banks respond by lowering the interest rates they offer. d. All of the above are correct.
Farms with sales of more than $250,000 account for __________ percent of U.S. agricultural sales.
Fill in the blank(s) with the appropriate word(s).