________ seem as a group to be mildly regressive and ________ seem as a group to be mildly progressive.
A. State and local taxes; federal taxes
B. Local taxes; federal and state taxes
C. Federal taxes; state and local taxes
D. Federal and state taxes; local taxes
Answer: A
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We are using resources efficiently if we can produce more of one good without producing less of some other good that we value more highly
Indicate whether the statement is true or false
Mason and Chloe each produce two goods. According to the principle of comparative advantage, the total output produced by these individuals will be greatest
A) if Chloe produces both goods and Mason produces nothing. B) if each good is produced by the individual who has the lower opportunity cost of producing that good. C) if each good is produced by the individual who has the higher absolute cost of producing that good. D) if Mason produces both goods and Chloe produces nothing.
Currently, union membership in the United States is about:
a. 10 percent. b. 15 percent. c. 20 percent. d. 25 percent.
The aggregate demand curve slopes:
A. downward, like individual supply curves. B. downward, like individual demand curves. C. upward, like individual supply curves. D. upward, like individual demand curves.