Applying supply and demand analysis, other factors held constant, the steeper the supply curve (more inelastic), the larger the burden of a sales tax that is borne by the sellers
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following would be the least likely to increase total factor productivity?
A) private investment in research and development B) increases in human capital C) the establishment of strong property rights D) increases in the population growth rate
The shifts in aggregate demand and aggregate supply as a result of the housing bubble collapse caused output to:
A. fall dramatically immediately. B. stay the same, since the shifts worked in opposite directions. C. rise temporarily, then fall. D. fall at a relatively slow rate over time.
The Skandusky Downtown Development Corporation (SDDC), a nonprofit entity, was accused by local taxpayers of being overstaffed and too lavishly accommodated for its purpose of achieving its community development goals. This accusation is an argument that the SDDC
a. is managed by stakeholders b. staff is following the MC = MR rule c. is an example of the Lester-Machlup controversy d. is engaged in empire building e. is minimizing community losses
Recall the Application about the salaries paid in Major League Baseball to answer the following question(s). Some Major League Baseball players are free agents, meaning they are free to negotiate a contract with any team. Other players are journeymen and apprentices, who are restricted to a single team.Recall the Application. What was the reason that rookies on the average are paid much less than their MRPs?
A. Their negotiations are restricted to only one team. B. Most of their salary goes to health insurance. C. They are terrible at negotiations. D. None of them are good players, so they are paid very little.