The Laffer curve shows as tax rates rise, tax revenue:
a. rises.
b. first rises, then falls, and then rises again.
c. falls.
d. first rises, and then falls.
e. remains at a constant level.
d
Economics
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Gross Domestic Product is an economic aggregate that represents the
a. potential output of a country. b. total product of a nation's economy. c. total income earned from all sales. d. total product that a country exports.
Economics
Which of the following is not a source of economies of scale?
A. Learning-by-doing. B. Labor specialization. C. Use of larger machines. D. Inelastic resource supply curves.
Economics