Most of the taxes collected by governments tend to
A. remain fixed.
B. move in the opposite direction from GDP.
C. be sales taxes.
D. rise and fall with the level of GDP.
Answer: D
Economics
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Under the Bretton Woods system
A) the United States was the only nation with floating exchange rates. B) all nations fixed the value of their currencies against the dollar. C) the United States was the only nation with a fixed exchange rate. D) all nations allowed the value of their currencies to be determined by the free market.
Economics
Refer to Figure 2-2. What is the opportunity cost of one pound of meat?
A) pound of vegetables B) pounds of vegetables C) 1.6 pounds of vegetables D) 16 pounds of vegetables
Economics