Which of the following is not a problem with examining the progressivity of the tax system over a lifetime?
a. The uncertainty over future tax code changes make forecasting of future taxes nearly impossible.
b. Such accounting does not consider what the taxes are spent on.
c. The fact that poor people do not live as long as wealthy individuals.
d. Accurately estimating who is actually paying taxes.
c
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It is conventional to divide the nation's total production into four categories. Name and explain the four categories. In the United States, which category accounts for the largest share and the smallest share of the nation's total production?
What will be an ideal response?
In the figure above, Gap maximizes its profit if it sells ________ jackets per day
A) 100 B) 64 C) 129 D) 133
Consumer surplus is
a. the difference between the price of the good and the cost to produce the good. b, the sum of what consumers are willing to pay and the price of the good. c. the difference between what consumers are willing to pay and the price of the good. d. the difference between the cost to produce the good and the amount consumers are willing to pay for the good.
If Ana devotes all her time to making fudge, she can make 3 pounds of fudge an hour, and if she devotes all her time to making toffee, she can make 2 pounds of toffee an hour. If Leo devotes all his time to making fudge, he can make 4 pounds of fudge an hour, and if he devotes all his time to making toffee, he can make 5 pounds of toffee an hour. Suppose that Ana and Leo decide to work together as a team. Can they produce 2 pounds of fudge and 4.5 pounds of toffee each hour?
A. No, this point is not attainable. B. Yes, this point is both attainable and efficient. C. No, this point is not attainable and inefficient. D. Yes, this point is attainable, but inefficient.