What is meant by the term double taxation?
a. The tax on corporations is double the rate paid by other forms of business.
b. The tax on corporations is one-half the rate paid by other forms of business.
c. Corporations must pay both federal and state taxes.
d. Corporate profits are taxed, and that portion of profits distributed as dividends is taxed as personal income

Transferable permits are likely to result in less inefficiency, relative to a pollution tax, when

a. The marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable b. The marginal costs of damages are steep and the marginal costs of pollution reduction are steep c. The marginal costs of damages are relatively stable and the marginal costs of pollution reduction are relatively stable d. The marginal costs of damages are relatively stable and the marginal costs of pollution reduction are steep e. The marginal costs of damage are elastic and the marginal costs of pollution reduction are also elastic

In the IS equation, which of the following is an exogenous variable?

A) planned investment spending B) real interest rate C) consumption D) all of the above E) none of the above