The role of the progressive tax system as an autonomous fiscal stabilizer requires that the budget
a. should require actual deficits be equal to zero on average.
b. should go into a surplus at appropriate points in the business cycle.
c. cannot have a structural deficit component.
d. Both a and b
e. None of the above
B
Economics
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The difference between average total cost and average variable cost decreases with an increase in output
a. True b. False Indicate whether the statement is true or false
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A tax is imposed on wine. Sellers will bear no burden from this tax if the: a. demand for wine is perfectly inelastic
b. demand for wine is perfectly elastic. c. demand for wine is unit elastic. d. supply curve for wine is perfectly inelastic.
Economics