The market demand curve for most goods and services is
A. the horizontal summation of individual demand curves.
B. calculated by multiplying all individual demand curves by each other.
C. not important for most analytical purposes.
D. not related in any way to individual demand curves.
A. the horizontal summation of individual demand curves.
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Advice on taxes, accounting or management information systems, and business strategies are commonly referred to as ________ services
A) accounting audit B) management advisory C) seller D) managing underwriter
If the federal government tries to make fiscal policy sustainable by increasing taxes on wages, the opportunity cost of leisure will ________ and will result in ________ potential GDP
A) increase; lower B) decrease; higher C) decrease; lower D) increase; higher
Special interests are likely to have less influence over tax reform _____
a. when the reform is small b. when the reform is comprehensive c. when the reform is at the local level d. when the reform is at the state level
When property rights are not well established,
a. private goods become public goods. b. markets fail to allocate resources efficiently. c. the distribution of private goods is unfair. d. government resources are used inefficiently.