If California decides to pay for public radio by taxing people based on the number of hours they listen based on voluntary self-reporting, then which of the following is likely to occur as a consequence?
a. Many individuals will overstate the number of hours they listen to public radio to government in order to receive a higher tax bill.
b. People who report listening quite a few hours and have a high income will pay a larger proportion of their income in public radio tax than people who report the same number of hours and have a low income.
c. Many individuals will understate the number of hours they listen to public radio to government in order to reduce their tax bill.
d. Many individuals will overstate the number of hours they listen to public radio to government in order to receive a lower tax bill.
c
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According to the Taylor rule, the Fed should set the target for the federal funds rate equal to the sum of the equilibrium real federal funds rate, the current inflation rate, one-half times the ________, and one-half times the ________
A) interest rate gap; inflation gap B) inflation gap; output gap C) interest rate gap; output gap D) unemployment gap; government-spending gap
Because each firm has a relatively large share of the market, the actions of one firm do not have much effect on the decision making of other firms in an oligopolistic market
Indicate whether the statement is true or false