Attempts to keep the economy always within a hair's breadth of full employment is called

The complexity of the U.S. federal income tax system results in significant annual deadweight losses. The opportunity cost of the hours taxpayers spend on record keeping and completing their tax returns amounts to billions of dollars

a. If the tax system was simplified, how would this benefit the economy? b. Why hasn't the tax system been simplified?

What does a successful protective tariff do?

(a) It forces foreign manufacturers to pay higher wages. (b) It re-enforces competition. (c) It creates an "economic rent" that goes to the competing domestic industries producing the taxed imported goods. (d) It mandates accelerated technological advance in the domestic economy.