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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 12
Daniel Patrick Moynihan, the late senator from New York, once introduced a bill that would levy a 10,000 percent tax on certain hollow-tipped bullets.
a. Do you expect that this tax would raise much revenue? Why or why not?
b. Even if the tax would raise no revenue, why might Senator Moynihan have proposed it?
a. Do you expect that this tax would raise much revenue? Why or why not?
b. Even if the tax would raise no revenue, why might Senator Moynihan have proposed it?
Explanation
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(a) A levy of a 10,000-percent tax would...
Essentials of Economics 7th Edition by Gregory Mankiw
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