The 2001 and 2003 tax cuts of the George W. Bush administration each had provisions to
A. lower the earned income tax credit.
B. lower (or speed up the already scheduled lowering) to tax rates.
C. raise tax rates at the lower end.
D. raise tax rates at the upper end.
Answer: B
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The majority of the members of the U.S. Congress want to retain the so-called Fairness Doctrine as a control over television and radio broadcasters because
A) competition by itself cannot produce fairness. B) government oversight is required to assure equal time for conflicting points of view. C) television and radio are local monopolies to a large extent. D) the air waves belong to the public. E) the doctrine gives more power and influence to members of Congress.
Competitive markets will generally produce
A) too much of a public good. B) too little of a public good. C) the efficient amount of a public good. D) the efficient amount of a public good in the short run, but not in the long run.