The corporate income tax is the single largest source of revenue for the federal government.
Answer the following statement true (T) or false (F)
False
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According to the article, the best description of Canada's position in the business cycle is
A) at a peak. B) at a trough. C) in an expansion. D) in a recession.
The Board of Governors of the Federal Reserve System is responsible for
a. approving changes in the discount rate. b. controlling monetary policy. c. administering discount lending. d. Both a and b e. All of the above
In situations in which prices cannot be used to signal relative scarcities of goods, which of the following can serve as a rationing mechanism?
A. political power B. random assignment C. queuing D. All of these
If country X can produce a unit of good 1 at a lower opportunity cost than can country Y, it is correct to state that country X
A) has a comparative advantage in producing good 1. B) has an absolute advantage in producing good 1. C) will import good 1 from country Y. D) will not produce good 1.