Economics 12E - Arnold - TB_231

Economics 12E - Arnold - TB_231 - NOTES New 18 A...

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NOTES: New 18. A value-added tax (VAT) is a less visible form of a sales tax. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Monetary and fiscal policy KEYWORDS: Bloom's: Comprehension 19. A tax rate increase necessarily leads to an increase in tax revenue for the government. POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Monetary and fiscal policy KEYWORDS: Bloom's: Comprehension 20. To finance a budget deficit the federal government borrows funds. POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Monetary and fiscal policy KEYWORDS: Bloom's: Knowledge 21. A subsidy is the same thing as a tax deduction
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POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Monetary and fiscal policy KEYWORDS: Bloom's: Comprehension NOTES: New
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