Part of the administrative burden of a tax is
a. the money people pay to the government in taxes.
b. reducing the size of the market because of the tax.
c. the hassle of filling out tax forms that is imposed on taxpayers who comply with the tax.
d. the cost of administering programs that use tax revenue.
c
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In the figure above, the shift from the short-run Phillips curve SRPC0 and the long-run Phillips curve LRPC0 to the short-run Phillips curve SRPC2 and the long-run Phillips curve LRPC2 is the result of ________ in the expected inflation rate and
________ in the natural unemployment rate. A) a decrease; a decrease B) an increase; an increase C) no change; a decrease D) an increase; no change E) a decrease; an increase
Country A and Country B initially have the same real GDP per capita. Country A experiences no economic growth, while Country B grows at a sustained rate of 5 percent. In 14 years, Country A's GDP will be approximately ____ that of Country B
a. one-fourth b. one-half c. double d. triple
In a perfectly competitive market, a given short-run equilibrium cannot persist into the long run unless the firms are earning (suffering)
a. above-normal profits b. below-normal profits c. economic losses d. economic profits e. just enough profit to cover all the owners' opportunity costs
The labor force is best defined as the part of the
A. adult population that is working. B. population that is working or capable of working. C. population that is working, looking for a job, or capable of working. D. adult population that is either working or actively looking for a job.