Describe the relationship illustrated by the Laffer curve
What will be an ideal response?
The Laffer curve illustrates the relationship between tax rates and tax revenues. The Laffer curve shows that high tax rates could lead to lower tax revenues if economic activity is severely discouraged, and lower tax rates could actually lead to higher tax revenues.
Economics
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A severe drought has damaged this year's lettuce cro
A) decrease in the demand for lettuce. B) decrease in the supply of lettuce. C) decrease in both the demand and supply of lettuce. D) rightward movement along the demand curve for lettuce.
Economics
Refer to Table 15-3. If Comcast maximizes its profits how much profit will it earn?
A) $84 B) $40 C) $4 D) Comcast will break even.
Economics