In what type of analysis could an increase in the tax rate lead to a decrease in tax revenues?
A. ad valorem taxation
B. dynamic tax analysis
C. static tax analysis
D. excise taxation
Answer: B
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Which of the following is TRUE?
A) A common market is more deeply integrated than a customs union. B) The European Union is a shallower and broader form of integration than NAFTA. C) NAFTA is an example of a customs union. D) Customs unions require the creation of a common currency.
In order to fit linear supply and demand curves to data, we need to find the parameters, a, b, c, and d, of the corresponding functions.
A.One procedure for finding those values uses the known values of: the price elasticity of demand and supply and the income elasticity of demand. B. the price and quantity of equilibrium and the elasticities of supply and demand. C. any two known values of price and quantity and income elasticity of demand. D. the demand equation and income elasticity of demand.
Consider a labor market in which employers discriminate against African Americans. Comparing the labor market equilibrium with no discrimination to the equilibrium with discrimination,
A. The African American wage rate is higher without discrimination than with discrimination. B. The number of African American workers hired is lower without discrimination than with discrimination. C. The white wage rate is higher without discrimination than with discrimination. D. The African American wage rate and the white wage rate are equal with and without discrimination; only the number of workers differs.
Gross domestic product is generally ________ national income
A) greater than B) less than C) equal to D) unrelated to