Corrective taxes enhance efficiency, but the cost to administer them exceeds the revenue they raise for the government
a. True
b. False
Indicate whether the statement is true or false
False
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Changes in the expected rate of inflation will:
A. cause the SRAS curve to become vertical. B. not shift but create a movement along the SRAS curve. C. shift the SRAS curve downward or upward. D. cause the SRAS curve to become upward-sloping.
According to your textbook, profit is a payment to
a. capital in the resource market b. labor in the entrepreneurial market c. capital in the product market d. entrepreneurship in the product market e. entrepreneurship in the resource market
If marginal cost equals marginal revenue on the downward-sloping segment of the marginal cost curve, then increasing production until marginal cost again equals marginal revenue, this time on the upward-sloping segment of the marginal cost curve, is a profit- maximizing decision
Indicate whether the statement is true or false
The primary value of data for real GDP lies in its ability to
What will be an ideal response?