A major goal of the World Trade Organization is to:
A. Increase the protection of producers against foreign trade competition
B. Encourage bilateral trade agreements between nations
C. Liberalize international trade among nations
D. Maximize tariff revenue for governments
C. Liberalize international trade among nations
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Expansionary fiscal policy consists of:
a. increased government purchases and increased taxes. b. decreased government purchases and decreased taxes. c. decreased government purchases and increased taxes. d. increased government purchases and decreased taxes.
The statutory incidence (or burden) of a tax refers to
a. the governmental agency responsible for collecting the tax. b. who actually bears the burden of a tax once changes in market prices are taken into account. c. the degree of progressiveness in the rate structure of the tax. d. who the tax is legally or statutorily imposed on.