Everything else held constant, an increase in net taxes ________ aggregate ________
A) increases; demand
B) decreases; demand
C) decreases; supply
D) increases; supply
B
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The law of diminishing marginal returns states that
A) as both labor and capital are increased, output increases at a decreasing rate. B) output increases at a decreasing rate as more capital is added. C) output decreases at a constant rate as more capital is added. D) as both labor and capital are increased, output does not change. E) output increases at a constant rate as more capital is added.
Briefly explain what is included in the following provisions which are a part of the Patient Protection and Affordable Care Act (ACA):
-the individual mandate -the employer mandate -regulation of private insurers -state health exchanges
The law of one price fails as a result of:
A. similar technical specifications. B. insignificant transportation costs. C. low tariffs. D. goods that cannot be traded.
The egalitarian principle of income refers to
A) each person being paid differently. B) each person receiving the same income. C) each person receiving tax breaks. D) each person working the same number of hours.