Excise taxes are
a. proportional since everyone pays the same tax rate
b. progressive since richer people buy more things
c. regressive since they represent a greater percent of poor people's incomes
d. proportional taxes since everyone has the same tax bill
e. progressive since richer people have higher tax bills
C
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The Federal Reserve System was created in
a. 1776 b. 1894 c. 1913 d. 1930 e. 1936
Which of the following is true?
A. At the same price, demand is more elastic on the steeper demand curve. B. On a linear demand curve, elasticity is constant. C. On a linear demand curve, the higher the price, the less elastic is demand. D. None are true.
One of reasons the government may choose to spend would be the:
A. real interest rates increase. B. beliefs about what citizens may need. C. government expected to earn a large return on its spending. D. real interest rates decrease.
The U.S. sugar quota
A) generates government revenue. B) results in net welfare benefits to the U.S. economy. C) results in benefits to sugar producers that exceed the cost to consumers. D) results in costs to consumers that exceed the benefits to sugar producers. E) does not result in an efficiency loss.