A tax on the income earned by buying investments and selling them at a higher price is called the:
A. sales tax.
B. corporate income tax.
C. capital gains tax.
D. excise tax.
C. capital gains tax.
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Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will have make 16 dishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. For Jerry, the opportunity cost of building a fence is ________ dishes made.
A. 7 B. 4 C. 14 D. 2
At the end of the year, Ford realizes it has overproduced Fiestas, because 2,500 of them are left unsold. How is this accounted for in that year's GDP? The cars are:
A. considered durable goods, and their value will increase consumption. B. considered inventory and their value will increase investment. C. not counted until they are sold in next year's GDP. D. considered a bad thing and reduce the value of investment.
If the marginal cost curve is below the average total cost curve, average total cost must be ____.
Fill in the blank(s) with the appropriate word(s).
In 2009, Congress passed tax laws to reduce income tax rates for some taxpayers. This action is called
A) a discretionary fiscal policy. B) a discretionary revenue policy. C) an automatic fiscal policy. D) an annual tax policy. E) induced tax policy.