Tax evasion is legal, but tax avoidance is illegal
a. True
b. False
Indicate whether the statement is true or false
False
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.
A partnership is ________ type of business
A) the most common B) the least common C) the least risky D) the most profitable
The graph shown demonstrates a tax on sellers. What is the amount of tax revenue being generated from the tax?
A. $310 B. $135 C. $80 D. $150