Taxpayers are _____ with a narrowly-based tax system with many deductions than with a broad-based income tax system that treats all income equally
a. better off
b. the same
c. worse off
d. sometimes better off
c
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________ marginal opportunity cost implies that the more resources already devoted to any activity, the payoff from allocating yet more resources to that activity increases by progressively smaller amounts
A) Constant B) Increasing C) Decreasing D) Negative
Refer to Figure 5-16. What is the optimal quantity of street lights to install?
A) 3 B) 4 C) 6 D) 9
What is the value of marginal profit at the profit-maximizing output?
Assume that the central bank purchases government securities in the open market. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and GDP Price Index in the context of the Three-Sector-Model?
a. The real risk-free interest rate falls, and GDP Price Index falls. b. The real risk-free interest rate rises, and GDP Price Index falls. c. The real risk-free interest rate and GDP Price Index remain the same. d. The real risk-free interest rate falls, and GDP Price Index rises. e. There is not enough information to determine what happens to these two macroeconomic variables.