The marginal product curve rises when the marginal cost curve rises
a. True
b. False
Indicate whether the statement is true or false
False
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Adam Smith believed that people are guided by
A. the principle "let your conscience be your guide." B. greed. C. the public good. D. an innate sense of fairness.
The majority of federal taxes are levied on ______,
a. property b. income c. usage d. sales
Assume an economy is incurring unemployment. The effect of resolving this problem will be to:
A. move the level of actual output on to the economy's production possibilities curve. B. create a less equal distribution of income. C. shift its production possibilities curve to the left. D. shift its production possibilities curve to the right.
Which of the following is TRUE of the Federal Reserve System?I.It was established in the early 1980s.II.It serves as the central bank of the United States.
A. I only B. II only C. Both I and II D. Neither I nor II