Which of the following is NOT a mechanism the HPAE used to share wealth across all layers of society?
A) significant investments in rural infrastructure
B) free public education
C) tax policies that strongly redistributed income from rich to poor
D) land reform
C
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What are two benefits of the new auto-emission standards?
What will be an ideal response?
With respect to production, the short run is best defined as a time period
A) lasting about six months. B) lasting about two years. C) in which all inputs are fixed. D) in which at least one input is fixed.
According to supply-side theory, which of the following would cause a rightward shift in the aggregate supply curve?
A. Eliminating government-funded training programs for the structurally unemployed. B. Increasing transfer payments to the unemployed. C. Eliminating job search assistance. D. Lifting trade restrictions.
Corn is produced in a perfectly competitive market. The demand for ethanol increases. This will cause the individual corn farmer's marginal revenue to ________ and their profit-maximizing level of output to ________.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease