The Laffer curve indicates that

a. when tax rates are low, a decrease in tax rates is likely to increase tax revenues.
b. when tax rates are high, an increase in tax rates is likely to a decrease in tax revenues.
c. tax revenue will always increase when tax rates are increased.
d. tax revenue will always decrease when tax rates are lowered.

B

Economics

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A situation in which one firm's actions with respect to price, quality, advertising and related changes may be strategically countered by the reactions of one or more other firms in the industry is known as

A) strategic dependence. B) economies of scale. C) the concentration ratio. D) barriers to entry.

Economics

In 2012, corporate income taxes contributed about what percentage of U.S. Federal tax revenues?

A. 10 percent B. 25 percent C. 50 percent D. 70 percent

Economics