The elasticity of a demand curve at any point can be ascertained by its steepness.
Answer the following statement true (T) or false (F)
False
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________ is defined as national income + transfers - taxes
A) Disposable income B) Personal income C) GDP D) Gross private domestic investment
What is meant by "tax incidence"?
What will be an ideal response?
For a fixed proportion production function, at the vertex of any of the (L-shaped) isoquants the marginal productivity of either input is:
a. constant. b. zero. c. negative. d. a value that cannot be determined.
A rise in interest rates leads to:
a. an increase in the PDV of profits from owning a machine. b. a decrease in the PDV of profits from owning a machine. c. offsetting the effects on the costs and benefits of owning a machine. d. no effect on either the costs or benefits of owning a machine.