A. structure of the tax.
B. ultimate distribution of a tax’s burden
C. behaviour of shifting the tax to another party
D. measure of the impact the tax has on employment and output
A. the tax rate you pay on any additional income that you earn.
B. the total amount of tax you pay divided by your total income
C. the additional tax you pay divided by your total income
D. your total income divided by the total amount of tax you pay.
A. income tax
B. VAT
C. a tax on profits.
D. inheritance tax
A. is the way in which a tax is structured
B. occurs when households can alter their behaviour and do something to avoid paying tax
C. occurs when taxes cause prices to increase but wages to fall.
D. is the ultimate distribution of a tax’s burden
A. increase the transfer of technology between nations
B. make it harder to nations to foster activities of comparative advantage
C. always enjoy political harmony in nations where their subsidiaries operate
D. require governmental subsidies in order to conduct worldwide operations
A. of products produced by a given industry.
B. produced by the government
C. of labour supplied by all households
D. of goods and services produced in an economy.
A. Enable abnormal profits to be made in the long run
B. Enable losses to be made in the long run
C. Enable abnormal profits to be made in the short run only
D. Occur in perfect competition
A. The demand curve is the marginal cost curve
B. The average revenue equals the average cost
C. The marginal cost is the average cost curve
D. The demand curve is the marginal revenue
A. Technological change has made it possible for many industries to become more competitive
B. Because few real natural monopolies exist there is rarely a reason for government regulation
C. Many instances of government regulation have succeeded in reducing competition in industries where competition may be beneficial
D. All of the above
A. An increase in the minimum wage that would cause consumer spending to increase
B. Investment tax credits for businesses to encourage investment
C. Restrictions placed on the amount that can be imported
D. An increased in government spending that would lead to increased aggregate demand