Which of the following is FALSE?
A) Tariffs are a relatively easy tax to administer and often form an important part of revenue for low-income countries.
B) Taxes on income, sales, and property require more complex accounting systems than do tariffs.
C) Low-income countries often have large informal markets with the sales of many goods and services not being recorded, which makes it difficult to apply many kinds of taxes.
D) Tariffs are not an attractive tax option for most low-income countries, so they mostly rely on quota licenses for revenue.
D
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The Fed purchases $100 million of U.S. government securities from First National Bank. The balance sheet for First National Bank shows ________ in its total assets and ________ in its total liabilities
A) no change; no change B) a $100 million increase; a $100 million increase C) a $100 million decrease; a $100 million increase D) a $100 million increase; no change E) a $100 million increase; a $100 million decrease
What is the divine coincidence? When and why does it not hold true?
What will be an ideal response?
In the market for euros, the supply of euros (€) is
A) downward sloping, because lower dollar prices of euros mean that U.S. goods are cheaper to Europeans. B) downward sloping, because higher dollar prices of euros mean that U.S. goods are cheaper to Europeans. C) upward sloping, because higher dollar prices of euros means that U.S. goods are cheaper to Europeans. D) upward sloping, because lower dollar prices of euros means that U.S. goods are cheaper to Europeans.
The earnings of most people
A) increase steadily until retirement. B) increase with age until around age 50 due to increased experience, training, and hours worked. C) increase with age until around age 40 due to increased experience and hours worked. D) increase with age until around age 60 due to increased experience, training, and hours worked, then level off as hours worked levels off.