Individual income taxes and social insurance taxes generate the highest tax revenue for the federal government
a. True
b. False
Indicate whether the statement is true or false
True
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Which of the following will lead to a decrease in the gross domestic product of a country?
A) An increase in the expenditure on investment B) An increase in exports C) A decrease in the expenditure incurred by the government D) A decrease in imports
Refer to Figure 3-5. At a price of $15, the quantity sold
A) is 2 units. B) is 4 units. C) is 6 units. D) cannot be determined.
In the presence of asymmetric information, a contingent contract
A) achieves production efficiency. B) can lead to opportunistic behavior on the part of the agent. C) is impossible to write. D) will result in the principal earning all of the profit.