The most efficient taxation system is a tax system that
A. is highly progressive.
B. maximizes tax revenues.
C. minimizes the overall excess burden.
D. minimizes the total tax burden.
Answer: C
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The supply of labor in the classical system is a function of the
a. marginal product of labor. b. real wage. c. the public's preference for leisure. d. money wage. e. b and c
The antitrust laws in the United States were created in the late 1800s as a result of :
a. the emergence of large and dominant businesses in railroads, steel, oil, mining and finance. b. the government decision to take responsibility for the improvement of trade deficit. c. the first illegal cartel, created in late 1800s. d. a steep decline in prices of primary goods in the United States. e. the threats of an external aggression received by the country.
Setting the prime rate of interest is an example of
A. price leadership. B. cutthroat competition. C. covert collusion. D. strong competition.
The costs borne by an individual victim of theft can diverge from the social costs if the
A. stolen items were destroyed by the thief. B. stolen items were covered by insurance. C. stolen items were priceless. D. all of the options are correct.