Which of the Following Statements Do Economists Generally Disagree On

question 241

Multiple Choice

Which of the following statements do economists generally disagree on?

• A) No tax revenues would be collected when average tax rates are 0%.
• B) No tax revenues would be collected when average tax rates are 100%.
• C) At very high average tax rates, increasing tax rates further would decrease tax revenues.
• D) At an average tax rate of 50%, tax revenues are maximized for a government.

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Definitions:

Seventeenth-Century Migrants

Individuals or groups who relocated, often across national boundaries, during the 1600s, frequently for reasons such as religious freedom, economic opportunity, or as a result of being transported as convicts or indentured servants.

Lower-Class Men

Individuals from the bottom socio-economic tier of society, often characterized by lower income and limited access to resources.

Headright System

A land-grant policy that promised fifty acres to any colonist who could afford passage to Virginia, as well as fifty more for any accompanying servants. The headright policy was eventually expanded to include any colonists—and was also adopted in other colonies.

Large Estates

Expansive areas of land, usually encompassing significant homes or mansions, often associated with wealth and aristocracy.