As tax laws become more complex,
a. the administrative burden of taxes will increase.
b. compliance costs are likely to decrease.
c. the government will collect more in tax revenue.
d. the amount of tax revenue lost to tax evasion will decrease.
a
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The financing of government spending by issuing debt
A) causes both reserves and the monetary base to rise. B) causes both reserves and the monetary base to decline. C) causes reserves to rise, but the monetary base to decline. D) has no net effect on the monetary base.
The "life cycle" hypothesis sates that
a. MPC remains constant as national income rises b. MPC varies with age c. transitory income determines consumption d. MPC varies with permanent income e. consumption spending is independent of income
Which of the following is likely to cause market failure and be undersupplied?
A. River water B. Research C. Orange juice D. Grazing pasture
The voluntary relocation of employable migrants from low-paying nations to high-paying nations reduces:
A. wage rate disparities among nations. B. business or capitalist income in the world. C. labor productivity in the world. D. total wage income in the world.