Which of the following economic decisions would most likely be studied by a macroeconomist?
A. Domino's Pizza decides to provide quantity discounts in order to increase revenue.
B. A local entrepreneur decides to open a Waffle House in the local Walmart parking lot.
C. The government of Estonia implements a flat rate personal income tax for all citizens.
D. Prices for train fares rise as labor unions negotiate higher wage rates.
C. The government of Estonia implements a flat rate personal income tax for all citizens.
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When the marginal benefit equals the marginal cost of the last unit sold in a competitive market
A) producer surplus is equal to consumer surplus. B) the net benefit of consumers is equal to the net benefit of producers. C) an economically efficient level of output is produced. D) total benefit is equal to total cost.
Because a bank has a very large pool of buyers and savers, it can:
A. diversify the risk of saving and borrowing for individuals. B. provide liquidity to some individuals that deposit funds. C. act in the best interest of society by ensuring there is enough money for people. D. act as an intermediary between firms and government.
One organization in the United States today that is exempt from antitrust laws is
A) the automobile industry. B) professional baseball. C) the oil industry. D) the steel industry.
An increase in demand is an increase in the quantity people are willing and able to purchase at ________.
Fill in the blank(s) with the appropriate word(s).