How much do you believe that current tax policy is influenced by politics, as opposed to sound and efficient tax policy?
What will be an ideal response?
This is a personal question but, in general, the United States' system of taxation has been
found to be very efficient. It is not perfect, and it is easy to find areas for improvement, but
given the number of people that are involved, it has worked remarkably well.
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The monopolist and the perfectly competitive firm both choose to maximize profits by choosing the level of output where:
A. MC equals AR and price is equal to minimum ATC. B. the two types of firms make their profit-maximizing decision differently. C. MC equals MR and price is equal to AR. D. MC equals MR and price is equal to minimum ATC.
What would be a way for the Federal Reserve to stimulate an economy that is? sluggish?
A) buy government bonds on the open market B) encourage the stock market C) print more money D) sell more government bonds
Figure 34-7
?
In Figure 34-7, it is probably true that wages are
A. equal in Pestoland and Pastaland. B. greater in Pestoland than Pastaland. C. greater in Pastaland than in Pestoland. D. higher in pasta production than in pesto production in both countries.
If wages for a certain type of labor were higher in one market than in another, then
A) the differential would exist into the long run. B) labor would move from the high wage market to the low wage market until wages were equal. C) labor would move from the low wage market to the high wage market until wages were equal. D) firms would not be acting as profit maximizers.