If a tax is regressive, the average tax rate
A. remains the same as income rises.
B. rises as income rises.
C. falls as income rises.
D. falls as income falls.
Answer: C
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A change in the price level produces a ________ the aggregate demand curve
i. shift in ii. change in the slope of iii. movement along A) i only B) ii only C) iii only D) i and ii E) i and iii
For a perfectly competitive palm tree nursery in South Carolina, the total revenue curve is
A) downward sloping. B) a horizontal line. C) upward sloping. D) U-shaped. E) undefined because the firm is perfectly competitive.
Large family size by itself creates very little new poverty
Indicate whether the statement is true or false
In a market based firm
A) headquarters is really only interested in external business relationships. B) headquarters still needs total budget control. C) headquarters assigns property rights. D) a focus on manufacturing is appropriate.