Which of the following is NOT a property of isoquants?
A. Isoquants curves are thin.
B. Isoquants may slope upward or downward.
C. Isoquants for the same technology never cross.
D. Higher-level isoquants lie farther from the origin.
B. Isoquants may slope upward or downward.
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Corporations have the advantage of
a. double taxation. b. limited liability of the stockholders. c. no taxes. d. limited life.
TV crime shows illustrate the prisoner's dilemma when the:
A. police interview suspects in the same room. B. police interview suspects in different rooms. C. judge ponders the sentence for the crimes. D. prisoners go to prison for the first time.
The demand function
A. does not include expectations. B. describes how much of good X will be purchased at the alternative price of good X, given all the other variables being constant. C. shows the relationship between the quantity demanded of X and variables other than its price. D. recognizes that the quantity of a good consumed depends on its price and demand shifters.
A permanent tax cut would likely ________ consumption spending ________ than would a tax rebate like the one issued in 2008
A) increase; more B) increase; less C) decrease; more D) decrease; less