An unintended byproduct of a market exchange that is allocated outside the market system is _____
a. a restrictive covenant
b. an externality
c. a pollution right
d. an external damage
b
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An across-the-board income tax cut where all income taxes were cut by a constant percentage would
A. necessarily go to higher-income people and alter the after-tax distribution of income in favor of high-income people. B. necessarily go to higher-income people. C. alter the after-tax distribution of income in favor of high-income people. D. by definition, keep the after-tax distribution of income relationships constant.
How do ratings agencies earn income?
What will be an ideal response?
The text discusses unions in the context of the New Deal. It concludes that there was _____ in organized labor's relationship with government because _______
a. deterioration; Roosevelt's early speeches had created excessively high expectations. b. an improvement; labor gained the right to strike and organize free of employer interference. c. deterioration; organized labor was made subject to the same controls as big business. d. an improvement; military preparations reduced unemployment.
If sales in an industry decline,
a. demand for additional labor also declines. b. demand for additional labor increases. c. demand for additional labor stays the same. d. the unemployment rate definitely falls.