As a percentage of government receipts, corporate income taxes are larger than personal income taxes and Social Security taxes combined.
Answer the following statement true (T) or false (F)
False
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Explain the concept of the "idea gap" in development economics
What will be an ideal response?
According to the liquidity premium theory of the term structure, a slightly upward sloping yield curve indicates that short-term interest rates are expected to
A) rise in the future. B) remain unchanged in the future. C) decline moderately in the future. D) decline sharply in the future.
Perfectly competitive markets are characterized by a. conditions that discourage new firms from entering the market
b. conditions that allow firms to determine how much they wish to produce, without influencing the market price. c. conditions that presume that each firm produces a unique product. d. conditions that force firms to advertise their product heavily, to compete with other producers.
The consumer price index overestimates inflation because it
A. allows consumers to move along a given indifference curve from one year to the next. B. uses the second year's market basket as the base rather than the first year's basket. C. measures the cost of a market basket in the second year that has too many units of the most inflated items. D. compares prices of what consumers actually buy rather than a fixed basket of goods.