The two sources that contribute roughly 80 percent together of total tax revenues are:
A. personal income tax and payroll tax.
B. personal income tax and corporate income tax.
C. corporate income tax and payroll tax.
D. personal income tax and excise tax.
A. personal income tax and payroll tax.
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Which of the following would be considered a variable input in the long run? a. The size of a firm's plant
b. The acreage of an apple farmer's orchard. c. The production capacity of a machine. d. All of the above.
When a monopolist is able to price-discriminate: a. its profits tend to increase and its output tends to fall. b. both its profits and output tend to increase
c. both its profits and output tend to decrease. d. its profits tend to fall and its output tends to increase.
Real GDP is:
a) the nominal value of all goods and services produced in the economy. b) the nominal value of all goods and services produced in the domestic economy corrected for inflation or deflation. c) that aggregate output that is produced when the economy is operating at full employment. d) always greater than nominal GDP.
Structural unemployment is:
A. the result of the ordinary difficulty of matching employee to employer. B. persistent, long-term unemployment. C. short-term unemployment. D. correlated with the ups and downs of the business cycle.