In 2012, corporate income taxes contributed about what percentage of U.S. Federal tax revenues?

Which of the following statements is true of a country that has a gold standard exchange rate system?

A. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to increase the price of gold. B. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to decrease the price of gold. C. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to reduce its money supply. D. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to increase its money supply.

Which of the following is not cited as one of the factors that accounts for the large-scale production that exists in many sectors of the economy?

A) Economies of scale. B) Advertising and image differentiation. C) The minimum efficient scale of operation in many industries is quite high relative to market demand. D) Risk spreading.