Which of the following will cause the average cost curve of making cigarettes to shift?
A) a $5 million penalty charged to each cigarette maker
B) a $1 per pack tax on cigarettes
C) a $1 an hour wage increase paid to all cigarette production workers
D) All of the above
D
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As Americans have become more health conscious, rules about food labels have become more complex and stringent. This is an example of government acting as
A. referee. B. redistributor. C. taxer. D. defender.
A ________ system is one in which households pay the same percentage of their incomes in taxes regardless of their income level
A) progressive B) regressive C) proportional D) complementary
Economists such as James Tobin and Paul Samuelson claimed that _________ provided solid evidence of the effectiveness of Keynesian policies
a. increases in deficit spending accompanied by extremely low unemployment during WWII b. increases in taxes accompanied by rising federal budget surpluses c. increases in the money supply accompanied by falling interest rates d. price controls accompanied by inflation
For a monopoly, for all units greater than one, the marginal revenue curve:
A. lies above the demand curve. B. lies below the average revenue curve. C. cannot be negative. D. All of these statements are true.