Many governments end up with chronic budget deficits because:
A. Many government programs are popular with voters, but hardly any voter likes paying taxes
B. The nation simply cannot produce everything that it consumes, so it has to rely on others
C. Some resources are not available from within, so they would have to be bought from others
D. Businesses do not want to have "big government" around too much
A. Many government programs are popular with voters, but hardly any voter likes paying taxes
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Like competitive firms, monopolies charge a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false
The marginal tax rate is
A) the sum of all individual tax rates. B) the total taxes paid as a percentage of total income. C) the average tax rate paid by both individuals and corporations. D) the increase in taxes as a percentage of the increase in income.