Raising taxes:
A. always raises tax revenues.
B. always decreases tax revenues.
C. can sometimes decrease tax revenues.
D. None of these statements is true.
C. can sometimes decrease tax revenues.
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Refer to Figure 4-6. What area represents producer surplus at the equilibrium price of P1?
A) A + B + C + D + E B) A + B + D C) D + E D) D + E + G + H
Relative purchasing power parity occurs when
A) purchasing power parity holds between every two countries. B) purchasing power parity only holds in recessions. C) the nominal exchange rate is constant. D) the real exchange rate is constant.
A sudden decrease in the market demand in a competitive industry leads to
a. Losses in the short-run and average profits in the long-run b. Above average profits in the short-run and average profits in the long-run c. New firms being attracted to the industry d. Demand creating supply
Inmates from the county prison who are on work release are counted as part of the labor force
a. True b. False Indicate whether the statement is true or false