Which of the following is a difference between a corrective tax and command-and-control regulation?
a. A corrective tax is more expensive than command-and-control regulation.
b. A corrective tax does not generate revenue, while command-and-control regulation generates revenue
c. A corrective tax is more flexible and cost-effective than command-and-control regulation.
d. A corrective tax needs to be updated with changes in technology, while command-and-control regulation does not need to be updated.
c
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Cyclical deficit (surplus)
What will be an ideal response?
A price floor is binding when it is set
a. above the equilibrium price, causing a shortage. b. above the equilibrium price, causing a surplus. c. below the equilibrium price, causing a shortage. d. below the equilibrium price, causing a surplus.
When producers are hopeful about the economic business outlook, they often
A. decrease their inventory levels. B. decrease their purchase of new goods. C. increase their investment in capital goods. D. increase their investment in savings.
In recent years the labor force participation rate has been fairly stable
A. although the labor force participation rate of young adults has increased while the labor force participation rate of those in the 40-55 age classification has fallen. B. although the female labor force participation rate has fallen while the male labor force participation rate has increased. C. as has the labor force participation rate for males, females, minorities, and nonminorities. D. although the male labor force participation rate has fallen while the female labor force participation rate has increased.