Dynamic tax analysis assumes
A) all of the present tax rates will be in place for a minimum of twenty years.
B) changes in the tax rates have no effect on the tax base.
C) changes in the tax rates have no effect on tax revenue.
D) changes in the tax rates will change the tax base.
D
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Time has a positive value for most people, but their opportunity costs of time differ
a. True b. False
Suppose that in a closed economy GDP is equal to 15,000, government purchases are equal to 3,000, consumption equals 10,500, and taxes equal 3,500 . What are private saving and public saving?
a. 1,500 and -500, respectively b. 1,500 and 500, respectively c. 1,000 and -500, respectively d. 1,000 and 500, respectively
Any change in price along a perfectly inelastic demand curve produces:
A. greater change in the quantity demanded. B. less change in the quantity demanded. C. no change in the quantity demanded. D. infinite change in the quantity demanded.
"Comparative advantage" is defined as a situation in which one person can produce
A) more of all goods than another person. B) more of a good than another person. C) a good for a lower dollar cost than another person. D) a good for a lower opportunity cost than another person. E) all goods for lower opportunity costs than another person.