In the real world, lump-sum taxes are:
A. perceived as unfair.
B. rarely used.
C. very efficient.
D. All of these statements are true.
D. All of these statements are true.
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An improvement in the technology used to produce goods would:
Mutual interdependence applies to actions of:
a. monopolistic competitors. b. oligopolists. c. perfect competitors. d. monopolists. e. firms operating in different industries.
Suppose that a firm operating in perfectly competitive market sells 400 units of output at a price of $4 each. Which of the following statements is correct? (i) Marginal revenue equals $4. (ii) Average revenue equals $100. (iii) Total revenue equals $1,600
a. (i) only b. (iii) only c. (i) and (iii) only d. (i), (ii), and (iii)
Policy should create an environment in which the economy can expand its productive capacity rapidly, because that is the ultimate source of higher living standards. This task is the realm of
A. growth policy. B. stabilization policy. C. labor policy. D. inflation policy.