A tax affects
a. buyers only.
b. sellers only.
c. buyers and sellers only.
d. buyers, sellers, and the government.
d
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The market labor supply curve is the sum of
a. individual labor supply curves at each wage rate b. the upward-sloping portions of individual labor supply curves c. the downward-sloping portions of individual labor supply curves d. the average of all individual labor supply curves e. individual labor supply curves at each net utility for market work
Suppose studies showed that 12 percent of all teens choose to participate in underage drinking. If policymakers wish to reduce the amount of underage drinking, they should:
A. not share that statistic, and let teens think that it's a huge problem with all teens. B. Informing them will have no impact on their individual behavior. C. let teens know that the great majority of teens currently do not drink. D. The statistic is likely to influence their personal decision, but it is impossible to predict in what way without more information.
A nation’s currency is said to depreciate when exchange rates change so that a unit of its currency can buy fewer units of foreign currency.
Answer the following statement true (T) or false (F)
All of the following contributes to economic development except
A. high saving and investment rates. B. low population growth rate. C. the existence of a market economy. D. abundant exportable natural resources.