The reduction of a tax
a. could increase tax revenue if the tax had been extremely high
b. will always reduce tax revenue regardless of the prior size of the tax
c. will have no impact on tax revenue
d. causes a market to become less efficient
a. could increase tax revenue if the tax had been extremely high
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Refer to Table 4-12. The equations above describe the demand and supply for Bubba's Fried Jellybeans. What are the equilibrium price and quantity (in thousands) for Bubba's Fried Jellybeans?
A) $40 and 5 thousand B) $20 and 20 thousand C) $60 and 10 thousand D) $80 and 40 thousand
For most students, the earnings they give up to attend college are
a. a minor cost when compared to the costs of tuition, room and board, and the like. b. the single largest cost of their education. c. about equal to the costs of room and board at college. d. not considered true costs by an economist.
All other things being equal, globalization
A. benefits people whose skills are relatively scarce on world markets, and hurts those whose skills are relatively common. B. benefits countries that have wealthy, highly educated workforces, and hurts countries that have poor, badly educated workforces. C. benefits countries that have relatively low wages, and harms countries that have relatively high wages. D. benefits manufacturing firms and hurts service firms.
The inverse dependency ratio is defined as the ratio of:
A. The average number of dependents per head of household B. The working-age population to the number of dependents C. The number of dependents to the number of the total population D. The number of parents and grandparents to the number of children