The total burden of a tax equals tax receipts plus excess burden
a. True
b. False
Indicate whether the statement is true or false
True
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Which would be an example of a price ceiling?
A) rent controls. B) a legally-specified maximum interest rate on student loans. C) government-mandated lower prices and fees charged by physicians. D) all of the above. E) none of the above.
The underground economy
A) is measured by government officials through tax returns. B) is difficult to describe but easy to measure. C) includes production that uses illegal workers who are paid less than minimum wage. D) includes mining production. E) is estimated by the government and the estimate is part of official GDP.
Poverty in the United States is defined as having an income that is less than the ____ level that is necessary to provide the basic necessities of life
a. sustainable b. relative c. absolute d. lowest quintile
Without usury laws interest rates would be _____________________.
Fill in the blank(s) with the appropriate word(s).