Because many immigrants are in low-paying jobs, they do not own homes but rent houses or apartments instead, and so they do not pay property taxes. What effect does this have on local tax revenue?
a. Very little, because landlords pay property taxes on rental units, which is reflected in the amount of rent charged
b. A moderate impact, because most immigrant taxes go to the state in the form of income and sales tax
c. A large impact, because immigrants use local services such as schools but do not pay for them
d. A small impact, because most communities have few immigrants, and therefore the taxes they pay are negligible
a. Very little, because landlords pay property taxes on rental units, which is reflected in the amount of rent charged
Many immigrants do not own homes, so they do not pay property taxes, which are one of the main sources of state and local tax revenue. They do pay sales taxes, which are state and local, and the landlords of property they rent pay property taxes out of the rents they collect.
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The elasticity of supply coefficient for bicycles is estimated to be equal to 1.5 . It is expected, therefore, that a 4% increase in price would lead to:
a. a 4% decrease in the quantity of bicycles supplied. b. a 4% increase in the quantity of bicycles supplied. c. a 6% decrease in the quantity of bicycles supplied. d. a 6% increase in the quantity of bicycles supplied.
If occupational safety laws were changed so that firms no longer had to take expensive steps to meet regulatory requirements, we would expect
a. the demand for the products of this industry to increase. b. the market price of the products of this industry to decrease in the short run but not in the long run. c. the firms in the industry to make long-run economic profit. d. competition to force producers to pass the lower production costs on to consumers in the long run.
The combination of food and clothing shown by point G on the above graph:
A. results only because society allocates its resources inefficiently. B. can be attained only if some of society's resources are unemployed. C. suggests that the law of increasing relative costs is not operating in this case. D. is not attainable, given society's available resources and technology.
Compare the composition of U.S. output in the year 1900 with its composition in the year 2000.
What will be an ideal response?