The "underground economy" is mostly made up of:
A. Unpaid work
B. Illegal activities
C. Do-it-yourself activities
D. Tax-evasion activities
D. Tax-evasion activities
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The median voter votes yes for a project if
A) the value of the project for him is larger than the tax he needs to pay. B) the value of the project for him is smaller than the tax he needs to pay. C) the total benefits are positive. D) the total cost is zero.
Justina operates in a perfectly competitive market. Which of the following is her short-run supply curve?
a. the MC curve above its point of intersection with the ATC curve b. the market supply curve c. the MC curve above its point of intersection with the AVC curve d. the market demand curve e. its MC curve
Work rules that are designed to protect jobs and maximize employment at any level of output are thought to lower worker productivity.
Answer the following statement true (T) or false (F)
Who may benefit from technological progress?
A) consumers B) workers C) firms. D) all of the above.