Which of the following best reflects the ability-to-pay philosophy of taxation?
A. Progressive income taxes.
B. Excise taxes on gasoline.
C. Taxes on residential property.
D. Excise taxes on coffee.
Answer: A
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Suppose there are 10 million part-time workers and 90 million full-time workers in an economy. Five million of the part-time workers switch to full-time work. As a result, the
A. official unemployment rate will fall. B. size of the labor force will increase. C. official unemployment rate will rise. D. official unemployment rate will remain unchanged.
The marginal rate of transformation from good X to good Y:
A. is the sum of a firm's marginal products. B. is the ratio of a firm's marginal products. C. is the product of a firm's marginal products. D. is the difference between a firm's marginal products.
What was the percentage of GDP that was expended, in total, on health care?
A. 0.132% B. 12% C. 13.2% D. 16%
The slope of a production possibilities curve is ________ because ________.
A. positive; producing more of one good requires producing less of the other B. positive; producing more of one good requires producing more of the other C. negative; producing less of one good requires producing less of the other D. negative; producing more of one good requires producing less of the other