Excise taxes of the Federal government include the following items, except:
A. Alcoholic beverage tax
B. Tobacco tax
C. General sales tax
D. Gasoline tax
C. General sales tax
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During the Reagan administration, the Laffer curve was used to ague that:
a. the supply-side effects of tax cuts are relatively small. b. discretionary tax cuts are unwise because they create stagflation. c. lower income tax rates could increase tax revenues. d. a "flat tax" would simplify the tax code and stimulate economic growth.
______ occur when a single firm can produce two or more products more cheaply than can two separate firms.
A. Economies of scale B. Economies of scope C. Diseconomies of scale D. Increasing returns to scale
Refer to Exhibit 6-2. The employment rate in year 2 is
a. 12 1/2 percent. b. 75 percent. c. 87 1/2 percent. d. 30 percent. e. 50 percent.
If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $12,000 to purchase those identical goods in 2015, then the inflation rate from 2005 to 2006 is
A. (100-83.3)/100*100%=16.7%. B. (100-100)/100*100%=0%. C. (120-100)/100*100%=20%. D. unknown given this data.