An indirect tax is exemplified by
A) an income tax.
B) a sales tax.
C) a subsidy.
D) None of the above answers is correct.
B
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If a duopolists' collusive price-fixing game can be played repeatedly,
A) one possible equilibrium is that both firms cheat. B) players can signal their willingness to cooperate. C) players can punish cheaters in the following game. D) All of the above answers are correct.
Exhibit 2-4 Production possibilities curve data A B C D E Capital goods 0 10 20 30 40 Consumer goods200 180 140 80 0 According to the data in Exhibit 2-4, a total output of 140 units of consumer goods and 10 units of capital goods would:
A. be unobtainable in this economy. B. be an efficient way of using the economy's scarce resources. C. result in the maximum use of the economy's labor force. D. result in a less than maximum rate of growth for this economy.
The figure above shows the market for college education in the United States. The marginal external benefit associated with educating 14 million students is ________ per student per year
A) $16,000 B) $13,000 C) $11,000 D) $5,000 E) $7,000
Fiscal policy affects
A. Interest rates only, and therefore does not affect the level or mix of output. B. Both the level and the mix of output. C. The level of output only. D. The mix of output only.