Taxing in labor markets creates more excess burden than taxing in commodity markets.
A. True
B. False
C. Uncertain
C. Uncertain
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A perfectly competitive market is characterized by a large number of small firms that produce a differentiated product
Indicate whether the statement is true or false
Political competition between candidates, especially attempts to paint one's opponent as being extreme, shows that _____
a. the way to be a successful politician is to fight dirty b. cyclical majorities will never exist c. there is an opportunity for third parties d. politicians implicitly accept the validity of the median voter model
Despite the monetary expansion of the 1992-2000 period, the inflation rate
a. rose due to adverse supply shocks. b. rose due to large increases in aggregate demand. c. fell despite adverse supply shocks. d. fell due to favorable supply shocks.
A movement along a demand curve is called a change in:
A. income. B. quantity demanded. C. demand. D. tastes.