Tax incidence most accurately refers to
A. The taxes paid divided by taxable income.
B. Those from whom a tax is collected.
C. The relative tax burdens of state and local governments.
D. The distribution of the real burden of a tax.
Answer: D
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Which of the following is the best measure of the total amount that the federal government owes to private owners of U.S. Treasury securities?
A) the government budget deficit B) the gross public debt C) government interagency borrowing D) the net public debt
In a business cycle, the period following a trough is called an expansion
Indicate whether the statement is true or false
Is the call for protection on the basis of "infant industry" valid?
a. No, because protection has no place in industrial development. b. No, protection is always improper. c. Uncertain, economic theory has no answer to this question. d. Yes, although it can be overstated and abused.
The law of diminishing marginal utility implies that marginal utility never becomes negative.
Answer the following statement true (T) or false (F)