Which of the following in not a reason that a lump-sum tax imposes a minimal administrative burden on taxpayers?
a. Everyone can easily compute the amount of tax owed.
b. There is no benefit to hiring an accountant to do your taxes.
c. Everyone owes the same amount of tax, regardless of earnings.
d. The government can easily forecast tax revenues.
d
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In the life-cycle hypothesis, a person who expects to work for R years earning Y dollars per year, and live for a total of L years, will consume ________ per year
A) RY - (L - R)Y B) LRY C) (L - R)Y D) (R/L)Y
Marking to market refers to
A) the determination of the prices of options contracts by the interaction of demand and supply. B) the determination of the prices of futures contracts by the interaction of demand and supply. C) the settlement of gains and losses on futures contracts each day. D) the settlement of gains and losses on forward contracts each day.