Broad-based taxes are less likely to be shifted than partial taxes are.
Answer the following statement true (T) or false (F)
True
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Refer to Figure 26-7. Suppose the Fed lowers its target for the federal funds rate. Using the static AD-AS model in the figure above, this situation would be depicted as a movement from
A) C to D. B) A to B. C) C to B. D) E to A. E) B to A.
Developing countries do:
A. compete with one another for foreign investment, and this competition reduces the benefits from foreign investment. B. not compete with one another for foreign investment, because they have sufficient domestic saving to finance their investment needs. C. not compete with one another for foreign investment, because they lack the infrastructure to attract it in the first place. D. compete with one another for foreign investment, but this competition is beneficial to developing countries because it insures a more efficient allocation of resources.
The Temporary Assistance for Needy Families (TANF) program:
A. Put a limit on receiving welfare payments and required able-bodied adults to work after receiving assistance for two years B. Increased the number of people receiving welfare benefits and the amount of the assistance C. Required businesses to monitor low-income workers and used Federal funds to supplement their pay D. Required the use of food stamps for food purchases by families, but permitted cash assistance to be given to the elderly
Suppose the University of Oklahoma increases the price of student football tickets for the 2012 season by 30 percent. If the price elasticity of demand for student tickets is 1.22, the price increase leads to
A) a 36.6 percent decrease in the quantity demanded. B) a 30 percent decrease in the quantity demanded. C) a 1.22 percent decrease in the quantity demanded. D) a 28.78 percent decrease in the quantity demanded. E) no change in the quantity demanded.