Which of the following statements is FALSE about the issues faced by the government when contemplating a tax?
A. Consideration must be given to how taxes influence market prices.
B. Consideration must be given to how tax rates relate to the amount actually received.
C. Consideration must be given to the amount of funds the government will be receiving from the transfer payments paid by the public to the government.
D. Consideration must be given to how taxes influence equilibrium quantity.
Answer: C
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Which of the following statements presents inaccurate information about the early U.S. labor movement?
a. Courts in the early 19th century often found unions guilty of conspiracy. b. Unskilled factory workers were the primary beneficiaries of early labor gains. c. In the 1820s and 1830s, small craft societies began to coalesce to form larger unions. d. Early unions experimented with collective bargaining, strikes and closed shops.
At her current level of consumption, Wiebke's marginal utility from an additional pencil is 15 utils, and her marginal utility from an additional pen is 10 utils. This implies that Wiebke would be willing to give up at most ________ pencils for an additional pen.
A. 0.75 B. 0.66 C. 3 D. 1.5
In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain. B. human capital. C. certification. D. credentialism.
If the cost of your gasoline purchases decrease from $150 per month to $80 over a period of one year due to lower prices and your income decreases from $1,600 per month to $1,500 per month, your nominal income has
A. Increased, but your real income has remained the same. B. Decreased, but your real income has increased. C. Increased, but your real income has decreased. D. Increased, and your real income has increased.