The Laffer curve shows as tax rates rise, tax revenue:
A. rises.
B. first rises, then falls, and then rises again.
C. falls.
D. first rises, and then falls.
Answer: D
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Jill runs a factory that makes lie detectors in Little Rock, Arkansas. This month, Jill's 34 workers produced 690 machines. Suppose Jill adds one more worker and, as a result, her factory's output increases to 700 Jill's marginal product of labor from the last worker hired equals ________.
A) 10 B) 20 C) 690 D) 700 E) None of the above answers is correct.
Contractionary monetary policy will cause the LM curve to shift to the right.
Answer the following statement true (T) or false (F)
Payment in the capital market is called investment.
Answer the following statement true (T) or false (F)
Refer to the graph below. At its equilibrium level of output, this monopolist earns:
A. Positive economic profits
B. Negative economic profits
C. Zero economic profits
D. Zero revenues