Which of the following would be an example of a public good?
a. A candy bar.
b. A painting by Monet.
c. A taxi cab.
d. A sunset.
e. The beach.
d
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All else constant, as more firms substitute alternative materials, e.g., plastic, for copper, the market price of copper would be expected to:
A) increase. B) stay the same. C) decrease. D) cannot be determined with the information given.
Everything else held constant, an increase in net taxes ________ aggregate ________
A) increases; demand B) decreases; demand C) decreases; supply D) increases; supply
Economists monitor economic growth by keeping track of
a. the stock market b. population growth c. the total quantity of goods and services produced in the United States each year d. the inflation rate e. the distribution of income among U.S. states
An income tax is defined as regressive if
a. the tax liability of those with higher incomes exceeds the tax liability of those with low incomes. b. the tax liability of those with higher incomes is less than the tax liability of those with low incomes. c. those with higher incomes pay a higher percentage of their incomes in taxes than those with low incomes. d. those with higher incomes pay a lower percentage of their incomes in taxes than those with low incomes.