Under a consumption tax, only current expenditures are taxed.
A. True
B. False
C. Uncertain
A. True
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If transactions costs are high, the economic pie may not be maximized
Indicate whether the statement is true or false
While Medicaid is targeted towards low-income individuals, exact qualifications are determined by _____
a. the Department of Health and Human Services b. state governments c. local governments d. judicial rulings
Which of the following explains why economists may disagree over normative issues?
a. They have different beliefs and values. b. They examine the same data to draw their conclusions. c. They need to disagree in order to publish their research findings. d. They often employ different statistical techniques when examining data. e. Some work only on microeconomic issues, while others focus exclusively on macroeconomic issues.
The government proposes a tax on red roses in order to boost their tax revenue. Consumers will bear no part of the tax burden if the: a. demand for roses is perfectly inelastic. b. supply of roses is perfectly elastic
c. demand for roses is perfectly elastic. d. demand for roses is unit elastic.