Assume that there is a proposed tax cut by the U.S. House of Representatives. A problem is
a. how to distribute the benefits of the total tax cut among different groups within the country.
b. that the process occurs very quickly without much time to study any negative effects.
c. that tax cuts are harder to implement than tax increases.
d. that the Federal Reserve has almost invariably been in favor of moderate tax increases rather than tax cuts.
e. this statement is wrong, as tax bills originate in the U.S. Senate.
A
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Product differentiation allows a firm to compete with another firm on the basis of
A) efficiency. B) elasticity. C) quality, price, and marketing. D) the level of output and the price. E) demand.
In theory, when a local government receives a grant to finance a certain type of expenditure, it should spend more if the grant _____
a. is a matching grant rather than a categorical grant b. is a categorical grant rather than a matching grant c. is a general grant rather than a matching grant d. is a categorical grant rather than a matching grant