In a proportional tax system each individual would pay the same percentage of his or her income in taxes
a. True
b. False
Indicate whether the statement is true or false
True
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Voluntary exchange requires that there must be mutual gain.
Answer the following statement true (T) or false (F)
Refining gasoline for our cars requires a very specialized resource, crude oil. As a result, the
A) demand for gasoline is price elastic. B) demand for gasoline is price inelastic. C) supply of gasoline is price elastic. D) supply of gasoline is price inelastic.
Which of the following actions would help the Fed increase the supply of money in the economy?
a. buying government bonds b. raising the reserve ratio c. selling government bonds d. raising the discount rate
Maximum Feasible Hourly Production Rates of EitherComputers or Bicycles Using All Available ResourcesProductUnited StatesCanadaComputers810Bicycles42Refer to the above table. If opportunity costs are constant, then the United States and Canada will produce goods in which they have a comparative advantage and trade at a rate of exchange of
A. 6 computers for 1 bicycle. B. 0.1 computer for 1 bicycle. C. 4 computers for 1 bicycle. D. 1 computer for 1 bicycle.