Net taxes equal the amount that the:
A. business sector pays the government minus the amount the private sector pays the government.
B. private sector pays the government minus the amount the private sector receives from the government.
C. government pays the private sector plus the amount of private sector pays the government.
D. government pays the private sector minus the amount the private sector pays the government.
Answer: B
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The old saying is "Be careful what you pay for, because you may get it." Discuss commission based salaries and gaming in light of the saying.
What will be an ideal response?
If the supply of aisle seats and middle seats on an airplane is the same, but the demand for aisle seats is greater than the demand for middle seats, then the equilibrium price of aisle seats will be less than the equilibrium price of middle seats
Indicate whether the statement is true or false
If the price of labor goes up and a firm replaces some workers with more machines, this is the _______ effect; when the price of a resource declines, and consequently the level of production rises, this is the _______ effect.
Fill in the blank(s) with the appropriate word(s).