When considering the interplay of the price and quantity effect of different tax levels, we realize that:
A. there is one tax level that maximizes tax revenues.
B. tax revenues will continue to increase at all levels where the price effect outweighs the quantity effect.
C. tax revenues will continue to decrease at all levels where the quantity effect outweighs the price effect.
D. All of these statements are true.
D. All of these statements are true.
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An example of a U.S. export is
A) diamonds mined in Africa sold to buyers in South America. B) a TV made in China sold to a buyer in Azerbaijan. C) matchbooks made in Mexico sold to a buyer in New Jersey. D) a washing machine made in Indiana sold to a buyer in France. E) pasta made in Italy sold to buyers in Spain.
The competition faced by firms in an oligopoly with differentiated products is higher than that faced by firm(s) in ________
A) a duopoly with homogeneous products B) perfect competition C) monopolistic competition D) monopoly
An increase in the amount of competition with other firms that employ "best practices" would be likely to cause a particular firm's labor productivity to:
A) increase B) stay the same. C) decrease. D) cannot be determined without additional information.
Which of the following is not included in a nation's balance of payments?
a. Imports and exports of services. b. International interest and dividend earnings. c. International real estate transactions. d. Changes in a nation's money supply due to a new required reserve ratio. e. All of the above are included in the balance of payments.