Population density varies little between the 50 states.
Answer the following statement true (T) or false (F)
False
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Are the owners of taxicabs in New York City earning large profits because the city severely restricts the number of licenses?
A) No, because the city also regulates fares. B) No, because the cost of owning a license absorbs the potential profit. C) Yes, because the number of licenses has not been increased for 50 years. D) Yes, because if they were not the number of taxicabs would decline and profits would rise. E) We cannot tell because profit arises from uncertainty.
A 5 percent tax is going to be applied to a $100,000 tax base. What can be said about the revenue collected assuming dynamic tax analysis?
A) The total revenue will be zero. B) The total revenue will be between $0 and $5,000. C) The total revenue will be $5,000. D) There is not enough information to determine what revenues will equal.
In the past 10 years or so, average real wages of U.S. workers in non agricultural industries have
a. increased about 40 percent. b. increased slightly. c. remained about the same. d. declined.
An implication of the median voter theorem is that, in a race between Republicans and Democrats,
a. if Republicans want to win, they will take a "middle-of-the-road" stance on many issues. b. if Democrats want to win, they will take an extreme stance on many issues. c. Republicans and Democrats go to extremes to differentiate themselves from one another. d. Republicans and Democrats work hard to identify the fringe voters.