Supply-side economics calls for:
A. lower taxes on businesses and individuals.
B. regulatory reforms to increase enforcement.
C. reduction in trade barriers.
D. increased government spending on infrastructure.
Answer: A
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Which of the following contributes to increasing marginal returns?
A) decreasing implicit costs B) increasing explicit costs C) specialization of labor D) Both answers A and B are correct. E) Both answers A and C are correct.
Which of the following will not lead to an increase in the demand for labor for a firm producing automobiles?
A) a decrease in labor productivity B) an increase in the price of robots that are used to solder parts of the car together C) an increase in the demand for automobiles D) an increase in the price of automobiles
A characteristic function is:
a. one that identifies negotiations which depend on the characteristics of the bargainers. b. one that gives the value each possible coalition of a group's members can create by operating independently. c. one that identifies the most beneficial price for the buyer involved in a transaction. d. one that identifies the most beneficial price for the seller involved in a transaction.
Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000 . How much would a family have to earn to owe $0 in taxes?
a. $8,000 b. $16,283 c. $28,571 d. $30,694