Typically, total utility derived from consumption decreases as more of a good is consumed
Indicate whether the statement is true or false
F
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It is usually more efficient to tax a large base at a low rate than to tax a small base at a high rate. ?
Answer the following statement true (T) or false (F)
If policymakers are concerned that the economy is in danger of rising inflation because aggregate demand is increasing faster than aggregate supply, the appropriate fiscal policy response is to
A) increase government spending. B) increase taxes. C) increase interest rates. D) use expansionary fiscal policy.
When 4 units of labor are employed, total product is 6 units; when 5 units of labor are employed, total product is 9 units of output. If the price of output is $5 per unit, what is the marginal revenue product of the 5th unit of labor?
A) $3 B) $5 C) $15 D) $45
A pharmaceutical company faces a price regulation where it cannot charge any higher than $5,000 for a lifesaving drug. The company knows that the patients put a high value on this product and are willing to pay up to $10,000 for it. The company decides to sell the drug together with periodic blood testing for $10,000 . This is an example of
a. Tying b. Bundling c. Fraud, the company is not allowed to sell for any higher than the regulatory pric d. Both A&B