Tax collections in the United States are an example of
a. tradition in a mainly market system
b. command in a mainly tradition system
c. market in a mainly tradition system
d. tradition in a mainly command system
e. command in a mainly market system
E
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When marginal tax rates are constant,
A. the change in taxes paid is the same as the change in income. B. the change in taxes paid is greater than the change in income. C. the change in taxes paid is less than the change in income. D. there are no taxes. E. none of these answer options are correct.
When market exchange occurs voluntarily in a competitive market
a. choice incurs no opportunity cost b. the sum of consumer surplus and producer surplus is maximized c. both consumer surplus and producer surplus are eliminated d. buyers benefit at the expense of producers e. the exchange confers no net benefit to the participants
Since 1996, _____
a. U.S. productivity growth has skyrocketed, at least initially, as more computers were installed b. the computer sector has grown faster than the U.S. economy as a whole c. spending on computers has been approximately constant as a fraction of total U.S. investment spending d. the contribution of computers to U.S. productivity growth has been negative e. computing technology has not improved enough to have a measurable impact on U.S. productivity
The adding up of individual economic variables to obtain economy wide totals is called:
A. monetary policy. B. aggregation. C. normative analysis. D. average labor productivity.