Dynamic tax analysis assumes that
A) an increase in a tax rate may lead to a decrease in the tax base.
B) an increase in a tax rate will lead to an increase in the tax base.
C) an increase in a tax rate will leave the tax base unchanged.
D) the tax base will always remain unchanged.
A
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The figure above shows how the PPF for cell phones and new cell-phone factories can expand. In the figure, if the economy chose the point on this year's PPF that is above point K, the next year's PPF would
A) shift inward along the vertical axis. B) shift inward along the horizontal axis. C) shift outward along the horizontal axis farther than the new PPF shown in the figure. D) shift outward along the vertical axis, not along the horizontal axis. E) shift outward along the horizontal axis, but not as far as the new PPF shown in the figure.
The long-run Phillips curve is ________ than the short-run Phillips curve
A) flatter B) steeper C) more volatile D) less stable
Around 1910, the ______________ changed everything, including what was inside the home to where the homes were located
a. Airplane b. Radio c. Automobile d. Television
Scarcity affects everyone, even billionaires
Indicate whether the statement is true or false