Refer to the information provided in Figure 32.1 below to answer the question(s) that follow.
Figure 32.1Refer to Figure 32.1. At point B
A. a decrease in tax rates will increase tax revenue.
B. an increase in tax rates will increase tax revenue.
C. any change in tax revenue will increase tax revenue.
D. any change in tax rates will decrease tax revenue.
Answer: D
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Which of the following is recorded in the U.S. balance of payments account?
I. foreign investment in the United States II. U.S. investment abroad III. the U.S. government deficit or surplus A) III only B) I and II C) I and III D) I, II and III
In Figure 1.9, the slope of the line between points K and L is
A. 0.60. B. 0.75. C. 0.80. D. 1.25.
A country that runs a trade surplus increases current consumption at the expense of future consumption.
Answer the following statement true (T) or false (F)
Which component(s) of U.S. real GDP decreased in size relative to total U.S. real GDP from 1950 to 2000?
A. Only services. B. Only agriculture. C. Agriculture and manufacturing. D. Only manufacturing.