What are the advantages of a flat tax system?
The advantages of the flat tax are that all of the traditional exemptions, like entertainment deductions, mortgage interest deductions, business travel expenses, and charitable contribution deductions, would be removed, along with the possibilities of abuses and misrepresentations that go with tax deductions. Taxpayers could fill out tax returns in a space about the size of a postcard. Advocates argue that the government could collect the same amount of tax revenues, but the tax would be much more efficient.
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The demand for money is:
A. limited by the amount of currency printed by the government. B. unlimited, since people want to hold as much money as possible. C. the amount of income an individual chooses to hold in the form of money. D. the amount of wealth an individual chooses to hold in the form of money.
Both ________ and ________ were financial innovations that occurred because of interest rate volatility
A) adjustable-rate mortgages; commercial paper B) adjustable-rate mortgages; financial derivatives C) sweep accounts; financial derivatives D) sweep accounts; commercial paper
Suppose the market supply curve for wheat is shown in the above figure. Calculate the producer surplus when price is $2 per bushel. If legislation mandates that the price be $1 per bushel, what is the resulting loss in producer surplus?
What will be an ideal response?
The end of racial preferences in college admissions has had no noticeable effect on minority enrollments
Indicate whether the statement is true or false