A key feature of the 2003 tax reform was
a. the creation of an estate tax
b. reduction of the tax rate on dividends and capital gains
c. eliminating the capital gains tax
d. eliminating tax exemptions
e. increasing tax deductions for corporate expenditures on entertainment
B
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In terms of their economic effects, which of the following policies toward pollution are most similar to one another?
a. regulation and corrective taxes b. regulation and tradable pollution permits c. corrective taxes and tradable pollution permits d. All of these policies produce the same economic effects.
Most economists would agree that each human life is beyond price.
Answer the following statement true (T) or false (F)
If diminishing marginal returns have already set in for Danica's Dog Training Emporium and the marginal product of the fifth dog trainer is 18, then the marginal product of the fourth dog trainer must be
A. greater than 18. B. negative. C. less than 18. D. zero.
A manager of a small company makes the following statement – "We need to keep hiring additional workers up to the point where the marginal productivity of the last worker we hire is at its maximum
This way we can maximize the total productivity of the firm." Critically evaluate this statement.