Which of the following statements is true?
a. A sales tax on food is a regressive tax.
b. The largest source of federal government tax revenue is individual income taxes.
c. The largest source of state and local governments tax revenue is sales and excise taxes.
d. All of the above are true.
e. None of the above are true.
d
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Refer to Scenario 1-2. Had the firm not produced and sold the last 300 hats, would its profit be higher or lower, and by how much?
A) Its profit will be $1,000 lower. B) Its profit will be $100 lower. C) Its profit will be $1,100 higher. D) Its profit will be $100 higher.
Consumer finance companies, because of the __________-term nature of their liabilities, prefer to hold __________-term assets
A) long; long B) long; short C) short; long D) short; short
Which of the following is most likely to affect the supply of labor in any particular industry?
a. the size of the available working population b. the nonmonetary attractiveness of the job c. the amount of ability and training necessary to enter the job d. all of the above
The clearest sign of inflation would be a(n)
a. increase in the price level. b. increase in the quantity of total final output. c. decrease in the quantity of total final output. d. simultaneous increase in both output and prices.