The effect of a change in net taxes on the quantity of real GDP demanded equals the resulting shift in the consumption function times _____
Fill in the blank(s) with the appropriate word(s).
the simple spending multiplier
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If average variable costs increase as output increases, then
A) total fixed cost must be increasing also. B) marginal cost must be greater than average variable cost. C) total cost must be constant. D) output must be zero. E) average total cost must be increasing also.
Property taxes are not very popular. People might dislike other taxes just as much, but feel powerless to change them. If the assessed value of the property does not rise or, in fact, declines, then this should be followed by decreases in tax rates. This, however, is not welcomed by property owners, either. Why?
What will be an ideal response?
Assume that the government one day decides to tax greens fees at all state golf courses. To the government's dismay, not only was the amount of tax collected small, but there was a 90 percent decline in golfing
What type of tax analysis did the government apparently rely upon when it imposed this tax? A) static tax analysis B) dynamic tax analysis C) transaction cost analysis D) ad hoc tax analysis
In the long-run, higher saving leads to
What will be an ideal response?