Today the typical American pays approximately what percent of income in taxes, including all federal, state, and local taxes?

Without changes in MC to maximize profits, the firm will produce at point ________ on the new demand curve and lower price to ________

A) E1; P1 B) E0; P0 C) E2; P2 D) E0 or E1; P0

The size of the underground economy would tend to decrease if the government of a country

A) decreased government regulations on businesses. B) made over-the-counter drugs illegal. C) increased income tax rates. D) increased business taxes.