Perfect central planning is nearly impossible for all of these reasons except
A. production processes between industries are often interdependent.
B. some processes must be decided together, and not individually, because of their interdependence.
C. if the output target for one industry is adjusted, many others must also be adjusted.
D. All of these reasons are correct.
Answer: D
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Refer to the below graph of the market for low-skilled labor. Sd is the supply of domestic resident workers, and St is the total supply of labor including undocumented workers. What is the equilibrium wage rate and equilibrium employment if there is illegal immigration?
A. $14 and 142M, respectively
B. $13 and 135M, respectively
C. $14 and 120M, respectively
D. $17 and 135M, respectively
What best describes the relationship between England and the US?
a. Throughout US history Britain has been one of the leading sources of immigrants. b. During most of the colonial period it provided relatively little monitoring of colonial actions. c. England often fought the Portuguese to protect its holding in colonial America. d. Until the Civil War, England was the primary source for American manufactured goods.
Which national income account should be examined to discover trends in the after-tax income that people have to save and spend?
When motorcycles are taxed and sellers of motorcycles are required to pay the tax to the government,
a. the quantity of motorcycles bought and sold in the market is reduced. b. the price paid by buyers of motorcycles decreases. c. the demand for motorcycles decreases. d. there is a movement downward and to the right along the demand curve for motorcycles.