Economist A believes that if tax rates are cut, tax revenue is likely to rise. This economist most likely believes that the percentage decrease in tax rates will ______________________________ percentage rise in the tax base
A) be larger than the resulting
B) be equal to the resulting
C) be smaller than the resulting
D) occur long after the
E) a and d
C
Economics
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As the price of a pound of peanuts falls, the
A) demand for peanuts increases. B) demand for peanuts decreases. C) quantity of peanuts demanded increases. D) Both answers A and C are correct.
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Normal profit is a term for:
a. explicit profit. b. the minimum profit to keep a firm in operation. c. the accounting profit forgone. d. pure economic profit.
Economics