Which is a better outcome for income and standard of living levels for large nations?
a. no tariffs
b. low tariffs
c. high tariffs
d, equal tariffs for all nations
Ans: a. no tariffs
Economics
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The reduction of a tax
a. could increase tax revenue if the tax had been extremely high b. will always reduce tax revenue regardless of the prior size of the tax c. will have no impact on tax revenue d. causes a market to become less efficient
Economics
Which of the following is considered by experts to have relatively little power within the Federal Reserve?
A) The Board of Governors B) The president of the New York Federal Reserve Bank C) The economic staff of the Board of Governors D) The Federal Advisory Council
Economics