A lump-sum tax would take different amounts from the poor and the rich
a. True
b. False
Indicate whether the statement is true or false
False
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The welfare loss associated with the outcome in a competitive oligopoly is:
A. bigger than that of a monopoly. B. smaller than that of a monopoly. C. the same as that of a monopoly. D. the same as that of colluding oligopolists.
If the price of a motorcycle is $5,000 . and workers who make motorcycles earn a wage rate of $50, how many workers will be hired when the labor market is in equilibrium?
a. There is not enough information to determine how many would be hired. b. Hiring will continue until the price falls to $50 . c. Hiring will continue until the wage rate rises to $5,000. d. Hiring will continue until the MRP of the worker is greater than zero. e. Hiring will continue until the MPP of the last worker is 0.01 motorcycles.
An increase in tariffs on imported goods will shift the aggregate supply curve to the left and cause the level of output to decrease.
Answer the following statement true (T) or false (F)
Changes in business inventories are:
A. classified as government purchases. B. classified as investment expenditures. C. excluded from GDP. D. classified as consumption expenditures.