________ is a tax on a stock, while ________ is a tax on a flow.
A. A tax on your salary; a retail sales tax
B. A local property tax; a tax on your salary
C. A payroll tax; a local property tax
D. A retail sales tax; a payroll tax
Answer: B
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In the model of an oligopoly with identical (homogeneous) products, what is the price likely to be?
What will be an ideal response?
Maureen's college raises the cost of room and board per semester. This increase raises Maureen's opportunity cost of attending college
a. even if the amount she would have to pay for room and board if she didn't attend college rose by the same amount. An increase in opportunity cost reduces Maureen's incentive to attend college. b. even if the amount she would have to pay for room and board if she didn't attend college rose by the same amount. An increase in opportunity cost increases Maureen's incentive to attend college. c. only if the amount she would have to pay for room and board if she didn't attend college rose by less than the increase in the amount her college charges. An increase in opportunity cost reduces Maureen's incentive to attend college. d. only if the amount she would have to pay for room and board if she didn't attend college rose by less than the increase in the amount her college charges. An increase in opportunity cost increases Maureen's incentive to attend college.
In addition to keeping interest rates too low for too long, the Fed also:
A. overestimated the importance of the housing sector for the whole economy. B. kept government spending too high for too long in the years leading up to the recession. C. ran too great of a budget surplus in the years leading up to the recession. D. underestimated the impact of a decline in the housing sector on the whole economy.
If a country has a high level of income, it:
A. has large amounts of physical and human capital. B. must be maintaining all natural resources. C. must be rapidly increasing its income each year. D. must be increasing all its natural resources.