Some economists believe that:
A. giving benefits to the rich will expand aggregate output and thus help the poor.
B. taxing the rich will cause them to increase their work efforts.
C. taxing the poor will cause them to increase their work efforts.
D. giving benefits to the poor will reduce aggregate demand, improving business so that wealthy stockholders are better off.
Answer: A
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A weakening in consumer confidence causes a
A) shift of the aggregate demand curve to the right. B) movement down along the aggregate demand curve. C) shift of the aggregate demand curve to the left. D) movement up along the aggregate demand curve.
The more inelastic the supply curve in a goods market, the smaller will be the deadweight loss from a per-unit tax in that market.
Answer the following statement true (T) or false (F)
Refer to Figure 11-11. The minimum efficient scale of output is reached at what rate of output?
A) 10,000 workers B) 10,000 picture frames C) 20,000 picture frames D) 5,000 picture frames
A seller cannot mislead purchasers of a(n) ________ good more than ________.
A) experience; once B) experience; twice C) inspection; twice D) inspection; once