In practice, it is difficult to integrate the concept of vertical equity into the tax code although it is widely agreed that high-income individuals should pay more
a. True b. False
a
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If the price of motel rooms increases by 10% while the prices of other goods and services increase by 5% on average, the relative price of motel rooms has:
A. decreased by 5%. B. decreased by 10%. C. increased. D. remained constant.
Technical and organizational change
A) typically reduces prices by increasing the supply of the product, ceteris paribus. B) typically reduces prices by decreasing the demand for the product, ceteris paribus. C) typically increases prices by increasing the demand for the product, ceteris paribus. D) typically increases prices by decreasing the supply for the product, ceteris paribus.
Suppose that a disease that affects people who consume beef has been discovered in the United States. One likely result is:
A. a decrease in demand for beef. B. a decrease in the quantity demanded of beef. C. an increase in buyers' reservation prices for beef. D. a decrease in demand for chicken.
Which of the following statements is true?
A. A random walk process is stationary. B. The variance of a random walk process increases as a linear function of time. C. Adding a drift term to a random walk process makes it stationary. D. The variance of a random walk process with a drift decreases as an exponential function of time.