Tax expenditures are revenues that
A. are always recouped during tax season.
B. only apply to large corporations.
C. are needed to get full exemptions.
D. are forgone due to preferential tax treatment.
D. are forgone due to preferential tax treatment.
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An open economy refers to an economy with
A) no trade barriers. B) unrestricted immigration. C) no government intervention. D) international trade.
An increase in the price of fuel and fertilizer used for corn would cause farmers to increase corn production in an effort to make up for lost profits
Indicate whether the statement is true or false
Which of the following examples could be used to determine the net interest for a household?
a. $800 (interest paid on home mortgage) multiplied by $200 (interest paid on car loan) b. $100 (interest received from saving account) divided by $800 (interest paid on home mortgage) c. $800 (interest paid on home mortgage) plus $200 (interest paid on car loan) d. $100 (interest received from saving account) minus $800 (interest paid on home mortgage)
If monopolistically competitive firms earn short-run economic profits, we expect to see
A) new firms enter the industry, which shifts the demand curves of the existing firms to the left until firms earn zero economic profits. B) new firms trying to enter the industry, but unable to do so because of barriers to entry. C) existing firms altering their scale of plant to try to capture larger profits. The combined effect is to cause all firms to earn zero economic profits. D) existing firms increasing prices to try to capture larger economic profits.