Tax collected based on a taxpayer's spending is known as:
a. excise tax
b. consumption tax.
c. gift tax.
d. income tax.
b
You might also like to view...
Taxing firms that emit pollutants is one way to reduce pollution.
Answer the following statement true (T) or false (F)
Suppose the intersection of the IS and LM curves is to the left of the FE line. What would most likely eliminate a disequilibrium among the asset, labor, and goods markets?
A) A rise in the price level, shifting the LM curve up and to the left B) A fall in the price level, shifting the LM curve down and to the right C) A rise in the price level, shifting the IS curve up and to the right D) A fall in the price level, shifting the IS curve down and to the left
There are two existing firms in the market for computer chips. Firm A knows how to reduce the production costs for the chip and is considering whether to adopt the innovation or not. Innovation incurs a fixed setup cost of C, while increasing the revenue. However, once the new technology is adopted, another firm, B, can adopt it with a smaller setup cost of C/2. If A innovates and B does not, A earns $20 in revenue while B earns $0. If A innovates and B does likewise, both firms earn $15 in revenue. If neither firm innovates, both earn $5. Under what condition will firm A innovate?
A. C < 30 B. 35 > C > 25 C. 10 > C > 0 D. C > 30
________: the situation where equilibrium GDP is less than full employment output
Fill in the blank(s) with correct word