Total surplus in a market does not change when the government imposes a tax on that market because the loss of consumer surplus and producer surplus is equal to the gain of government revenue
a. True
b. False
Indicate whether the statement is true or false
False
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If someone who was working full time is now only working part time, this change in status will cause the unemployment rate to
A) increase. B) decrease. C) remain unchanged. D) It depends on how many hours this person is now working each week.
Although ________ currency is lighter than coins made of metals, a disadvantage arising from modern technology is the ease of ________
A) paper; transport B) commodity; counterfeiting C) fiat; transport D) paper; counterfeiting
Which of the following statements best describes the outcomes of protectionism for infant industries?
a. Protectionism for infant industries never imposes costs on domestic users of the product but typically has provided little benefit in the form of stronger, competitive industries. b. Protectionism for infant industries always imposes costs on domestic users of the product and typically has provided little benefit in the form of stronger, competitive industries. c. Protectionism for infant industries never imposes costs on domestic users of the product and typically has provided much benefit in the form of stronger, competitive industries. d. Protectionism for infant industries always imposes costs on domestic users of the product but typically has provided much benefit in the form of stronger, competitive industries.
Describe the cost of discrimination to society. How is the cost of discrimination illustrated in a production possibilities curve?
What will be an ideal response?