Which of the following does the U.S. currently have?
a. means-tested government benefits and tax laws that tax capital income only once
b. means-tested government benefits and tax laws that tax some capital income twice
c. tax laws that tax capital income only once, but not means-tested government benefits
d. tax laws that tax some capital income twice, but not means-tested government benefits
b
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For a perfectly competitive firm, price is identical to marginal revenue at every quantity
a. True b. False
A monopolist will increase output to the point where MR equals MC and not beyond.
Answer the following statement true (T) or false (F)
If demand falls and supply falls, equilibrium price will _____ and equilibrium quantity will _____.
Fill in the blank(s) with the appropriate word(s).
All of the following are resources EXCEPT
A. doctors because they perform services. B. money. C. the computer in the student computer lab. D. the land the Statue of Liberty sits on.