A complete accounting of the costs of the tax system would not include _____
a. compliance costs
b. legislative costs
c. administrative costs
d. political costs
b
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Suppose there are two countries (Home and Foreign) that produce two goods. Home's wages are 100% greater than Foreign's wages. Will trade be possible between Home and Foreign?
a. No, because Foreign's wages are lower than Home's wages. b. Yes, Foreign will be able to export both products to Home. c. Yes, as long as Home's marginal productivity of labor in one product is at least 100% higher than Foreign's marginal productivity of labor in the same product. d. No, because prices will be the same in each country.
Export promotion is widely regarding by economists as a positive role for government policy makers to play because it is very effective at promoting economic growth
Indicate whether the statement is true or false