Social capital is
a. the shared values and trust that promote cooperation in the economy
b. the buildings and equipment used to produce goods and services
c. a government regulation aimed at improving health and safety
d. the accumulated knowledge, skill, and experience of the labor force
e. the owner's own or borrowed money invested in a business
A
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An income tax in which the average tax rate increases with income is called a
A) regressive income tax. B) proportional income tax. C) flat-rate income tax. D) progressive income tax.
Which of the following is a liability of a commercial bank?
a. Property and buildings owned b. Loans c. Government bonds held d. Cash in its vault e. Deposits at the bank
Resources are efficiently allocated when production occurs at that output at which:
A. P equals MC. B. P equals MR. C. P exceeds MR. D. P equals AVC.
Without a belief that the market has failed, which of the following will result in deadweight loss?
A. A price below or above equilibrium B. A price above equilibrium C. A price at equilibrium D. A price below equilibrium