A government wishing to maximize its tax revenues should
A) always assess the highest possible tax rate.
B) always assess the lowest possible tax rate.
C) determine the highest possible tax rate and then back it down by exactly 4 percentage points.
D) push tax rates up to the point where revenues peak, but raise the tax rate no farther.
Answer: D
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Borrowers who took out mortgages in the 1960s:
A. were harmed by the unexpected low inflation rates of the 1970s. B. benefited from the unexpectedly high inflation rates of the 1970s. C. were harmed by the unexpectedly high inflation rates of the 1970s. D. benefited from the unexpected low inflation rates of the 1970s.
Explain the difference between equality of opportunity and equality of results. Draw an analogy to a football game
What will be an ideal response?