Many economists believe a comprehensive income tax
A. would balance efficiency and equity well.
B. would be less efficient than excise taxes.
C. would be more efficient than a lump sum head tax.
D. would be less equitable than a lump sum head tax.
Answer: A
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The above table shows the short-run total product schedule for the campus book store. When the book store hires the 3rd employee
A) the bookstore is still experiencing increasing marginal returns. B) the book store has already begun to experience diminishing marginal returns, but average product is still rising. C) both marginal and average product have already begun to decline. D) marginal product is at its maximum.
Which of the following transactions would increase GDP?
a. a new tricycle purchased at a department store sale by the parents of a three-year-old child b. the retirement check your uncle received for spending 25 years in the Marine Corps c. the five shares of Microsoft stock your grandparents gave you for making an A in economics d. the $200 you lost when your wallet was stolen
Individuals will usually make choices to minimize the value of some objective.
a. true b. false
Suppose that in the beginning of 2016 the federal debt was $11 trillion and at the end of 2016, the federal debt was $11 trillion. During 2016
A. the government balanced its budget. B. the budget surplus was zero. C. the budget deficit was zero. D. all of the above