If the Bush tax cuts were allowed to expire in 2010, the maximum personal income tax rate in the United States would have moved above 50 percent
a. True
b. False
Indicate whether the statement is true or false
False
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In most cases, the fact that one of the market curves is perfectly inelastic is not sufficient to conclude that a per-unit tax in that market is efficient. A tax on land rents is an exception. Can you explain why?
What will be an ideal response?
Reorganization of the airline industry came in two waves, one led by large long-established airlines and the other led by new entrants to the industry
Indicate whether the statement is true or false
The term used to describe a more realistic conception of human problem-solving that assumes less than perfect analysis is: a. framing
b. compartmentalizing. c. countercyclical policy. d. bounded rationality.
Which of the following is not a solution to the problem of negative externalities due to pollution?
a. create private property rights b. levy pollution taxes c. create obligatory controls d. subsidize the production of the goods e. establish strict limits on the amount of pollution allowed