Which statement is true?
A. The federal government collects much more in direct taxes than in indirect taxes.
B. The federal government collects much more in indirect taxes than in direct taxes.
C. The federal government collects the same amount in direct taxes as in indirect taxes.
A. The federal government collects much more in direct taxes than in indirect taxes.
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To determine who bears the greater share of a tax, we compare the
A) number of buyers to the number of sellers. B) elasticity of supply to the elasticity of demand. C) size of the tax to the price of the good. D) government tax revenue to the revenue collected by the suppliers. E) pre-tax quantity to the post-tax quantity.
Which of the following statements is true?
a. Exports tend to decrease economic efficiency. b. A nation should specialize in producing a good in which it has an absolute advantage. c. A nation should specialize in producing a good only when it has both an absolute and a comparative advantage. d. A nation should specialize in producing a good in which it has a comparative advantage. e. International trade does not reflect the benefits of specialization.
A binding minimum wage may not help all workers, but it does not hurt any workers
a. True b. False Indicate whether the statement is true or false
Assume that the real rate of interest is 5 percent and a lender charges a nominal interest rate of 15 percent. If a borrower expects that the rate of inflation next year will be 10 percent and the actual rate of inflation next year is 12 percent:
A. neither the borrower nor the lender benefits from inflation. B. both the borrower and the lender lose from inflation. C. the borrower benefits from inflation, while the lender loses from inflation. D. the lender benefits from inflation, while the borrower loses from inflation.