Critics of the tax cut of 2001 made all of the following arguments EXCEPT
A. It would push up the federal budget deficit.
B. Most of the benefits would go to the rich.
C. The last time massive tax cuts were enacted in the 1980s, budget deficits increased dramatically.
D. The tax cut will discourage people from working.
D. The tax cut will discourage people from working.
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Answer the next question on the basis of the following data. OutputTotal Cost0$24133241348454561669The average total cost of producing 3 units of output is
A. $14.00. B. $16.00. C. $12.00. D. $13.50.
In the long run, there is
A) a tradeoff between unemployment and inflation. B) a tradeoff between unemployment and natural unemployment. C) a tradeoff between unemployment and real GDP. D) no tradeoff between unemployment and inflation. E) no tradeoff between fiscal policy and monetary policy.
The marginal private cost of a chemical is $100 per ton and its marginal external cost is $20 per ton. What is the marginal social cost of the chemical?
What will be an ideal response?
A labor-intensive method of production is one that:
A) requires employees to work harder than they would in other occupations. B) relies exclusively on labor. C) relies on large quantities of labor and smaller quantities of capital equipment. D) combines a small but sophisticated labor force with a large amount of capital.