If the (average) tax rate falls by 10% and as a result the tax base rises by 20%, then tax revenues will
A) rise.
B) decline.
C) remain unchanged.
D) There is not enough information given to answer this question.
A
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Because of the weak systems of property rights in many developing and transition economies, the financial system is unable to use collateral effectively worsening the ________ problem
A) adverse selection B) moral hazard C) principal/agent D) diversification
Of the following high-income countries, which has the highest obesity rate?
A) Canada B) Japan C) the United Kingdom D) the United States
"3-D printers" can reduce the cost of producing stuff because they:
A. Eliminate massive factory costs B. Reduce transportation costs significantly C. Make use of low-cost materials and low-energy requirements D. Exploit huge economies of scale in production
A price ceiling is
A) the lowest price a seller can charge without losing all of its customers. B) a legal minimum price below which a good or service cannot be sold. C) a legal price above which a good or service cannot be sold. D) a nonprice rationing device.