In economics, the term ________ refers to a group of buyers and sellers of a product and the arrangement by which they come together to trade
A) collective
B) cooperative
C) market
D) trade-off
Answer: C
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What is the ability-to-pay principle of taxation? List one strength and one weakness of the ability-to-pay principle as a guide to tax policy
What will be an ideal response?
Featherbedding is a union practice designed to increase employment of union members
a. True b. False
By definition, there is discrimination when the marketplace offers different opportunities to similar individuals who differ only by
a. race, ethnic group, sex, age, or other personal characteristics. b. qualifications, experience, or job preferences. c. levels of human capital. d. All of the above are correct.
If the demand for illegal drugs is inelastic, then a government policy to cause their price to increase would cause total revenue from drug sales to:
A. rise. B. fall. C. stay the same. D. drop to zero.