A major attraction of the flat tax is its simplicity.
Answer the following statement true (T) or false (F)
True
With a flat tax everyone pays the same portion of their income in taxes with fewer deductions.
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The process in which financial institutions accept savings from businesses, households, and governments and lend the funds to other businesses, households, and governments is called
A) central banking system. B) financial intermediation. C) moral hazard. D) adverse selection.
Why is the advent of monopoly likely to shift cost curves?
What will be an ideal response?
When taxes are imposed on a commodity,
a. there is never a deadweight loss. b. some consumers alter their consumption by not purchasing the taxed commodity. c. tax revenue will rise by the amount of the tax multiplied by the before-tax level of consumption. d. the taxes do not distort incentives.
The difference between imports and exports of merchandise goods and services is reported
A. nowhere in the Balance of Payments accounting system. B. as the sum of the current account and the capital account. C. in the current account. D. in the capital account.