Answer the question on the basis of the following four tax schedules for the given base of taxable income. Which of the above tax schedules is a regressive tax schedule throughout?
A. A
B. B
C. C
D. None of the schedules
A. A
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Assume that a firm has $100 million in real assets and $90 in real liabilities. If the price level rise by ten percent, the real value of its assets would ________
A) fall B) rise C) change, but more information must be provided to determine their exact movement D) remain unchanged
If government's goal is to raise tax revenue and limit efficiency loss, taxation is most effective when:
A. supply is inelastic and demand is elastic. B. demand or supply is elastic. C. demand or supply is inelastic. D. demand is inelastic and supply is elastic.
Economic growth tends to be higher in a country that
A. has a low saving rate. B. has an undeveloped system of property rights. C. does not grant patents to investors. D. has an open economy that encourages the rapid spread of technology.
A bank that has assets of $85 billion and a net worth of $10 billion must have:
A. liabilities of $75 billion. B. excess reserves of $10 billion. C. liabilities of $10 billion. D. excess reserves of $75 billion.