Taxes collected on the basis of the benefits-received principle
a. provide the states with their main sources of revenue
b. tend to redistribute income from rich to poor
c. collect the same total amount from each individual
d. connect the revenue side of the budget with the spending side of the budget
e. make it possible for government to spend money on activities that markets can't provide
D
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According to the Weak Coase Theorem, in the absence of transactions costs, the assignment of property rights has no effect on
a. damages paid by liable parties. b. the distribution of income. c. the allocation of resources. d. economic efficiency.
In terms of informal power within the Federal Reserve, which of the following groups do experts regard as the most powerful?
A) The Federal Advisory Council B) The economic staff of the U.S. Department of Commerce C) The economic staff of the Board of Governors D) Federal Reserve Bank directors
Bonds are a form of debt
Indicate whether the statement is true or false
Assume that this graph illustrates a perfectly competitive labor market.
Equilibrium in this labor market is at a wage of ________ per hour and an employment level of ________ person-hours per day.
A. $20; 125 B. $30; 150 C. $20; 200 D. $30; 100