Over the past 80 years, prices in the U.S. have risen on average about
a. 2 percent per year.
b. 4 percent per year.
c. 3.6 percent per year.
d. 6 percent per year.
c
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Which of the following statements is correct?
a. A decrease in the size of a tax always decreases the tax revenue raised by that tax. b. A decrease in the size of a tax always decreases the deadweight loss of that tax. c. Tax revenue decreases when there is a small decrease in the tax rate and the economy is on the downward-sloping part of the Laffer curve. d. An increase in the size of a tax leads to an increase in the deadweight loss of the tax only if the economy is on the upward-sloping part of the Laffer curve.
Which form of business is also known as a closely held? corporation?
A. Master limited partnership B. Private corporation C. Public corporation D. Sole proprietorship E. Limited liability partnership
Rent seeking:
A. results in more negative externalities. B. involves lobbyists influencing government policies to benefit their interests. C. results in less market share for the rent seekers. D. None of the statements are correct.
Which type of statement is most likely to include the word "should"?
A. Fair statement B. Normative statement C. Factual statement D. Positive statement