Some colleges charge all students the same "activity fee.". Suppose that students differ by how many campus activities they engage in. This charge is most like
a. an excise tax which conforms to the benefits principle.
b. an excise tax which violates the benefits principle.
c. a lump-sum tax which conforms to the benefits principle.
d. a lump-sum tax which violates the benefits principle.
d
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The Gini ratio in Brazil was over 0.6 in 1990 and fell to 0.5 in 2010. This change means that over this time inequality ________ and the Lorenz curve moved ________ the 45 degree line
A) increased; closer to B) increased; further away from C) decreased; closer to D) decreased; further away from
When individuals use ________ about an economic variable to make a decision, expectations are rational
A) only historical information B) all available information C) only information garnered in the private sector D) only information announced by the Fed
The theory of countervailing power asserts that
a. government must counter the power of big business b. the government must nationalize all important industries c. market power in one sector will be held in check by market power in another sector d. big firms will all join together to raise prices and profits e. small firms are a sufficient countervailing force to neutralize the harmful effects of big business
For about the last 45 years, federal taxes have remained relatively constant as a percentage of GDP
a. True b. False Indicate whether the statement is true or false