How much do you believe that current tax policy is influenced by politics, as opposed to sound and efficient tax policy?
What will be an ideal response?
This is a personal question but, in general, the United States' system of taxation has been
found to be very efficient. It is not perfect, and it is easy to find areas for improvement, but
given the number of people that are involved, it has worked remarkably well.
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In order to spend more time with her children, a young mother decides to work less hours as her pay increases. What does her labor supply curve look like?
What will be an ideal response?
Between 1950 and 2015 the productivity of wheat farmers in the United States more than doubled. This means that
A) the total amount of wheat produced more than doubled. B) the amount of land and other resources devoted to wheat production more than doubled. C) the amount of wheat produced by the average farmer more than doubled. D) the incomes of wheat farmers more than doubled.