The threat of a large fine for failure to pay income taxes is an example of
A) the excessive power of the Internal Revenue Service.
B) the ineffectiveness of incentives to get people to pay their taxes.
C) a negative incentive to get all people to pay taxes.
D) people failing to consider all the benefits the government provides them.
C
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For a firm that can effectively price discriminate, who will be charged a lower price?
A) buyers that are members of the smallest market segment B) customers who have an elastic demand for the product C) buyers that are members of the largest market segment D) customers who have an inelastic demand for the product
A _________ is an agreement under which stockholders of several formerly-competing companies turn over their shares to a group that exercises voting control over the companies
a. trust b. gentleman's agreement c. holding company d. pooling arrangement
The trade-creation effect refers to:
a. a reduction in economic efficiency as a result of a preferential trade agreement. b. a production shift to a higher-cost producer as a result of a preferential trade agreement. c. the outcome of a preferential trade agreement that allows a country to obtain goods at a lower cost than is available at home. d. diversion of production from a country that has comparative advantage. e. a production shift to a country that does not have comparative advantage.
In fiscal year 2014, the U.S. federal budget deficit amounted to about:
a. 1.2% of GDP b. 3.7% of GDP c. 4.5% of GDP d. 10% of GDP