According to the Laffer curve, we know with certainty that an increase in the tax rate will
A) cause tax revenue to increase.
B) cause tax revenue to decrease.
C) have no effect on tax revenue.
D) cause tax revenue to increase, decrease, or remain unchanged.
D
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What is the main reason behind the disparity in the growth rates of South Korea and North Korea over the last sixty years?
What will be an ideal response?
Logrolling may result in
A) creating limited incentives for policymakers to consider the immediate consequences of their proposed legislation. B) legislation that yields economy-wide benefits, the funding for which is borne primarily by a few of the smallest states. C) members of Congress selling their votes on proposed legislation to the highest bidder. D) a majority of Congress supporting legislation that benefits the economic interests of a few, while harming the economic interests of a much larger group.
The official definition of poverty is
A) exactly the 12 percent of U.S. residents with the lowest incomes. B) exactly the 20 percent of U.S. residents with the lowest incomes. C) an absolute measure. D) a relative measure.
Monopolies exist for each of the following reasons, EXCEPT:
a. competitors are legally unable to challenge them. b. they have control over resources with very few good substitutes. c. it is sometimes inefficient to have competition in certain markets. d. it increases both producer and consumer surplus.