Recall the Application the Joint Committee on Taxation and how Congress accounts for the dynamic effects of its policies to answer the following questions.According to the Application, the Trump Tax cuts would have increased the deficit by ________ billion after taking into account the dynamic effects.
A. $451
B. $159
C. $1456
D. $641
Answer: A
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Panel data estimation can sometimes be used
A) to avoid the problems associated with misspecified functional forms. B) in case the sum of residuals is not zero. C) in the case of omitted variable bias when data on the omitted variable is not available. D) to counter sample selection bias.
Which of the following is true?
a. All types of environmental problems can be solved merely by the enforcement of individual property rights. b. Environmental regulation cannot improve environmental quality. c. Income levels exert little impact on the demand for environmental quality. d. Markets often result in outcomes that are inefficient when it is difficult to assign and enforce property rights.
Assume there are 4065 voters in a certain small town and let x = the preferred number of dollars charged monthly to support local parks. For Voters 1-1050, x = $10; for voters 1051-2121, x= $20, for voters 2122-3334, x = $30; for voters 3335-3998, x = $40; and for 3999-4065, x = $50 . Based on these preferences, which of the dollar amounts will win over any of the others?
a. $20. b. $30. c. $50 d. None of the above are correct.
The role of government in shifting the production possibilities curve to the right is considered:
A) supporting economic growth. B) redistributing income. C) providing certain goods and services. D) enforcing private property rights.