Changes in tax laws in 1993
A) reduced Federal revenues by making the tax code more regressive.
B) reduced Federal revenues by making the tax code more progressive.
C) increased Federal revenues by making the tax code more regressive.
D) increased Federal revenues by making the tax code more progressive.
D
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Refer to Scenario 18.1. When Curly made the loans to Moe, Larry, and Shemp, there were 500 coins' worth of receipts, so in total, the receipts were ________ backed by gold
A) 20% B) 40% C) 50% D) 100%
Assume that a monopolist faces a linear demand curve. If the firm is operating at an output level where marginal revenue is positive, the firm:
A. Has maximized total revenues B. Could raise revenues by raising prices C. Can always increase profits by lowering its price D. Is operating on the elastic portion of its demand curve