State and local governments do not receive income directly from which source?
A. Sales taxes
B. Social security taxes
C. Property taxes
D. Local income taxes
Answer: B
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Unlike the steel industry, the automobile industry
(a) became more concentrated. (b) became less concentrated. (c) remained the same in terms of concentration. (d) constantly fluctuated in terms of concentration.
Suppose that the world price of kiwi fruit ($10 per box) is below the domestic price ($12 per box). A tariff of $1 per box would:
a. cause foreign producers to be better off, because the price they charge is now higher by $1 per box. b. cause domestic producers to be worse off by $5 per box. c. allow domestic consumers to enjoy kiwi fruit for $5 more per box than the free trade price, but still $2 less than the domestic price. d. allow domestic consumers to enjoy kiwi fruit for $1 more per box than the free trade price, but still $1 less than the domestic price. e. cause domestic producers to be worse off by $10 per box.
Friedman and Phelps believed that the natural rate of unemployment was constant
a. True b. False Indicate whether the statement is true or false
If marginal product is negative, then
A) total product is rising. B) total product is falling. C) marginal cost is falling. D) average profit is rising.