Sales taxes are
A) assessed on the prices paid on a large set of goods and services.
B) levied on purchases of a particular good or service.
C) based on each individual taxpayer's income level.
D) collected only by the U.S. government.
A
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Anything that influences a good's price or the marginal physical product of labor will influence wages
a. True b. False Indicate whether the statement is true or false
Using Figure 4.2, suppose point C represents the optimal mix of public and private goods for a society. The market mechanism is likely to result in a mix of output represented by point
A. B because the market mechanism tends to overproduce public goods. B. F because the market mechanism is inefficient. C. D because the market mechanism tends to underproduce public goods. D. C because the market mechanism is efficient.