Nearly half of the federal government's tax revenues come from
A. Individual income taxes.
B. Customs, whiskey, and tobacco taxes.
C. Corporate income taxes.
D. Social Security payroll taxes.
Answer: A
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The use of money as a medium of exchange
I. lowers transaction costs. II. permits more specialization. A) I only B) II only C) Neither I nor II D) Both I and II
The Herfindahl-Hirschman Index is one factor used to determine whether a merger between two firms should be allowed. Which of the following statements regarding the value of the Index for a given industry is true?
A) If a merger resulted in an Index of between 1,000 and 1,800, the industry would be considered competitive and the merger would not be challenged. B) If a merger would result in an Index value of 1,000 or more, the industry would be considered a monopoly and the merger would be challenged. C) If a merger would result in an Index value less than 1,000, the merger would not be challenged. D) If a merger would increase the Index by 100, the industry would be considered a monopoly and the merger would be challenged.
The Great Depression is thought to have been prolonged and made deeper by
A) contraction of the money supply. B) the stock market crash. C) speculative behavior of investors. D) rapid inflation.
When making income comparisons across countries, economists generally prefer to use
a. the exchange rate conversion method. b. the consumer price index ratio method. c. the purchasing power parity method. d. the interest rate differential conversion method.