Which of the following constituted the majority of federal government revenues in 1860?
a. Property tax.
b. Tariffs.
c. Income tax.
d. Fees and Licenses.
b. Tariffs.
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A pay-as-you-go system
A. has current retirees being paid out of the taxes of current workers. B. has current retirees being paid out of the taxes of current workers and has a sufficient amount of money on hand currently to pay out all future obligations. C. has a sufficient amount of money on hand currently to pay out all future obligations. D. always requires a trust fund.
When airplanes take off and land at Logan airport, residents of East Boston complain about the noise. The same planes make the same noise during the trip to Boston from Paris, but there are no ____ for most of the trip because ____
a. jet sounds; noise doesn't travel at high altitudes b. third parties; there are no externalities c. externalities; there are no third parties d. complaints; airplanes are insulated e. free riders; passengers must pay to board the plane
Bob, a Greek citizen, opens a restaurant in Chicago. His expenditures
a. increase U.S. net capital outflow and have no affect on Greek net capital outflow. b. increase U.S. net capital outflow and increase Greek net capital outflow. c. increase U.S. net capital outflow, but decrease Greek net capital outflow. d. decrease U.S. net capital outflow, but increase Greek net capital outflow.
Per the video clip on the Great Depression and Keynesianism, which of the following is false?