The United States payroll tax is regressive at top income levels.
Answer the following statement true (T) or false (F)
True
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Answer the following statements true (T) or false (F)
1. Under conditions of perfect competition, firms sell identical products. 2. Perfect competition assumes free entry into a business or industry. 3. Under perfect competition, market price is determined by market demand and supply. 4. A prime example of perfect competition is the U.S. auto industry. 5. Under conditions of perfect competition, AR always equals MR.
"Intel Inside" accompanies virtually all IBM-compatible computers. Intel manufactures the Celeron and Pentium chips that are a key component of personal computers. Does Intel have a monopoly?
If the additional revenue from hiring an additional worker equals the additional costs from hiring the extra worker, then we know that
A) MFC = MPPL. B) MFC/MPPL = wage. C) MFC = MRPL. D) MRPL/P = MFC.
Use the Aggregate Supply - Aggregate Demand model to determine which of the following will lead to higher aggregate output.
A. A tax increase B. A spike in world oil prices C. A cut in interest rates D. A cut in government spending