Based on data from 2016, which of the following countries has the lowest tax burden?
A. The United Kingdom
B. The United States
C. Italy
D. Sweden
Answer: B
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Before the Great Depression, macroeconomic theory was dominated by the ________ approach that presumed the essential ________ of the private economy
A) Keynesian, stability B) Keynesian, instability C) old classical, stability D) old classical, instability
A perfectly competitive firm in the short-run can earn:
a. positive economic profits. b. negative economic profits. c. zero economic profits. d. all of these are possible
Say an individual demand curve was given by P = 50 - 5Q. When the price is $25, consumer surplus is around
A. $125. B. $100. C. $63. D. $188.
Assume a family that earns $20,000 pays $1,000 in income taxes, while a family that earns $40,000 pays $3,750 in income taxes. In this situation, the income tax system is
A. regressive. B. progressive. C. proportional. D. one of these but we cannot tell which one without more information.