Loopholes increase the efficiency of the tax system by making taxpayers better off
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the above diagram. A binding government price support program to aid farmers is best illustrated by:
A. price B. B. price A. C. price C. D. quantity E.
In August 2011, Standard & Poor's (S&P) changed its rating on U.S. Treasury bonds from "AAA" to "AA+" based on the state of the federal government's budget deficit. This was the ________ a rating agency had given Treasury bonds less than a rating of
"AAA." A) first time ever B) second time since the year 2000 C) first time since the Great Depression D) fifth time in history
Equal increases in government purchases and taxes will:
A. increase the equilibrium GDP and the size of that increase varies directly with the size of the MPC. B. increase the equilibrium GDP and the size of that increase is independent of the size of the MPC. C. increase the equilibrium GDP and the size of that increase varies inversely with the size of the MPC. D. decrease the equilibrium GDP and the size of that decrease is independent of the size of
For price-taking producers, isoprofit curves are always parallel to one another.
Answer the following statement true (T) or false (F)