Horizontal equity can be difficult to assess because it is difficult to compare the similarity of tax payers
a. True
b. False
Indicate whether the statement is true or false
True
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What is the relationship between the gross domestic product of a country and its gross national product?
What will be an ideal response?
Which of the following is an advantage of starting a new business as a corporation?
A) ease in setting up B) low expenses of legally organizing C) double taxation D) greater ability to raise funds
When unions successfully raise wage rates,
a. the employer must cut benefits b. fewer workers may be employed c. there is decreasing pressure for workers to join the market d. a strike occurs e. the monopsony keeps the same return to monopsony power
Use the following graph, which shows the supply and demand for British pounds, to answer the next question.
D1 and S1 represent the initial demand and supply curves. If there is a large increase in the number of American tourists visiting Britain because of a major event (like the Olympics or the World Cup), what should the British government do if it wants to fix the exchange rate at its initial level?
A. Shift D1 to D3 B. Shift S1 to S2 C. Shift S1 to S3 D. Shift D1 to D2