Between 1995 and 1998, Federal tax revenues from ________ increased sharply
A) the personal income tax
B) the corporate profits tax
C) social insurance taxes
D) all of the above
A
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If the economic profit generated by a firm is zero and its implicit costs are greater than zero, then
A. accounting profit is also zero. B. accounting profit is less than zero. C. new firms will enter the industry. D. accounting profit is greater than zero.
Under flexible exchange rate, the response of an economy to a temporary fall in foreign demand for its exports is
A) the currency appreciates, and output falls. B) the currency depreciates, and output falls. C) the currency depreciates, and output increases. D) the currency depreciates, and output remains constant. E) the currency appreciates, and output increases.
If all the countries used one common currency, we could expect that exports and imports would
a. decrease because international trade would be less needed b. decrease because each country would be producing more output c. increase because exchange rate uncertainty would be eliminated d. increase because many small countries would benefit most e. not change because trading of goods is independent of currency
Pleasure boaters enjoy the use of waterways, but sometimes run into problems and need rescue. Coast Guard boats, supported by tax revenue, are often used for rescue. Is it likely that there will be an efficient amount of boating and rescuing?
What will be an ideal response?