The payroll tax is the federal government’s biggest source of revenue.
Answer the following statement true (T) or false (F)
False
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The return that an entrepreneur can expect to earn, on average, is called
A) profit. B) normal profit. C) economic profit. D) accounting profit.
In the late 1980s, Canada embarked on an ambitious policy of reducing inflation to zero. Inflation did come down, while the unemployment rate ________, which ________ the U.S. disinflation experience of the 1980s
A) rose, runs counter to B) rose, duplicates C) remained nearly constant, runs counter to D) remained nearly constant, duplicates
Collusion is:
A. easy to maintain since firms always have an incentive to renege. B. difficult to maintain since firms rarely agree on the terms. C. easy to maintain since firms face similar cost curves. D. difficult to maintain since firms always have an incentive to renege.
Monopolistically competitive sellers have some ability to influence the price of their products
a. True b. False Indicate whether the statement is true or false