The ability-to-pay philosophy of taxation argues for a progressive form of taxation
a. True
b. False
Indicate whether the statement is true or false
True
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To what do economists attribute the rapid growth of labor productivity in the United States relative to other countries?
A) the flexibility of U.S. labor markets and the efficiency of the U.S. financial system B) the high level of unemployment benefits the United States pays relative to other countries like Canada C) the strict government rules in the United States that regulate a firm's ability to hire and fire workers D) the low rate of job mobility in the United States
The difference between the yield on 3-month Treasury bills and 10-year Treasury notes is largest typically during:
A) recessions B) expansions C) periods of high inflation D) when the yield curve is inverted
Sound career decision-making involves
A) finding the things you enjoy without regard for whether you do them well. B) figuring out the things you do best without regard to whether you find them personally enjoyable or fulfilling. C) figuring out the things you do best, enjoy, and find fulfilling. D) only monetary considerations.
Capital has a life that typically
A. extends over many years. B. expires as it is being used. C. lasts for less than 1 year. D. never expires.