If the size of a tax increases, tax revenue
a. increases.
b. decreases.
c. remains the same.
d. may increase, decrease, or remain the same.
d
You might also like to view...
In the graph for the consumption function, the 45-degree line
A) contains only a consumption component.
B) represents both planned consumption and planned investment.
C) shows various combinations where planned consumption equals real disposable income.
D) reflects a decreasing APC as real disposable income rises.
A firm earns a profit of exactly zero at its optimal output level only if
a. P = MR. b. P = MC. c. P = AC. d. P = SR AVC.
Which of the following situations depicts a closed shop?
a. Bruce’s application at Work Co. was rejected because he is a union member. b. The Work Co. job was open only to active union members in good standing. c. After a recent round of hiring, all the positions at Work Co. had been filled. d. Shift workers at Work Co. auto supply voted against joining the union.
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.If Joe and Sarah are faced with the game in the figure shown, we can see that:
A. neither student has a dominant strategy. B. Sarah has a dominant strategy, but Joe does not. C. Joe has a dominant strategy, but Sarah does not. D. both students have a dominant strategy.