The above table gives the government outlays and tax revenues from 2008 through 2012 for two countries. In 2010 country A had a ________ and country B had a ________
A) budget deficit; budget deficit
B) budget deficit; budget surplus
C) balanced budget; budget deficit
D) budget surplus; budget surplus
E) budget surplus; budget deficit
B
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Some politicians argue that reducing the corporate income tax will increase business investment spending.
Answer the following statement true (T) or false (F)
Within the circular flow model, which of the following is not represented as a flow of funds into firms?
A) Foreign purchases of goods and services. B) Income payments. C) Consumption spending. D) Government purchases.
What do we mean when we state that a particular principal-agent payment scheme is inefficient?
A) The principal and agent could find another agreement that would increase the sum of the owner's revenue and the worker's payment. B) The agreement involves the highest level of effort for the worker. C) The agreement leads to the lowest level of revenue for the owner. D) The sum of the income taxes paid by the owner and the worker is too high.
Explain the excess burden of a tax on luxury yachts