In the United States, over the past 40 years federal revenues as a share of gross domestic product have
A) risen steadily and now are about 40 percent.
B) fallen below 10 because of rapid economic growth.
C) been limited by law to no more than 20 percent.
D) ranged between 17 and 19 percent.
D
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The benefit of tax deferred savings accounts is_____
a. that it helps avoid some of the double taxation of saving b. that it helps taxpayers avoid bracket creep c. that it increases government tax revenue in the long run d. that it stimulates aggregate demand
In 2011, Netflix raised prices on its DVDs and internet streaming plan. The Reed Hastings, CEO of Netflix, believes
a. Netflix is an industry leader thereby making the demand curve inelastic b. Netflix is an industry leader thereby making the demand curve elastic c. People are willing to pay more for the good d. There are many substitutes to Netflix's products
Which of the following is an example of an externality that has been internalized?
A. Acid rain, originating in the United States, destroys Canadian forests. B. Robert Frost breathes the air that has been polluted by the emissions of a nearby steel plant. C. Erica Evans, a beekeeper, decides to keep more bees because her neighbor, an orchard owner, has agreed to compensate her for the bees' pollination of the orchard. D. Miguel Sanchez, a concert pianist, rehearses Beethoven's "Moonlight Sonata" and his neighbors enjoy the "free concert." E. all of the above
When using a logarithmic scale to plot output per capita over time, an upward-sloping curve that becomes increasingly steep indicates
A) output per capita is not changing. B) output per capita is growing by a constant amount each year. C) output per capita is growing by a constant percentage each year. D) output per capita is growing by an increasing percentage each year. E) output per capita is not defined.