Illegal immigrants to the U.S. usually charge higher wages than their American counterparts
a. True
b. False
Indicate whether the statement is true or false
False
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Two firms, Acme and FirmCo, have access to five production processes, each of which has a different cost and gives off a different amount of pollution. The daily costs of the processes and the corresponding number of tons of smoke emitted are shown in the table below.Process(smoke/day) A(10 tons/day) B(8 tons/day) C(6 tons/day) D(4 ton/day) E(2 tons/day) Cost to Acme ($/day) $750$800$1,000$1,400$2,000 Cost to FirmCo ($/day) $500$750$1,200$2,200 $4,000Suppose the firms are both currently using process A. If the government requires each firm to reduce pollution by 20%, then the firms will adopt process ________, and a total of ________ tons of smoke will be emitted each day.
A. B; 16 B. A; 18 C. C; 12 D. D; 8
Consider the following data that describe the relationship between income and a tax.IncomeTaxes$20,000$3,40016,0003,00012,0002,4008,0001,6004,000800The tax may be best described as
A. proportional at lower income levels and progressive at higher income levels. B. proportional at lower income levels and regressive at higher income levels. C. regressive at lower income levels and proportional at higher income levels. D. regressive at lower income levels and progressive at higher income levels.
Decision making is a process, what is the first step?
a. Define the decision b. Estimate resources c. Consider alternatives d. Imagine consequences
Automatic stabilizers smooth fluctuations in the economy because they produce changes in the government's budget that
A. reinforce changes in GDP. B. produce a dynamically-adjusted budget. C. produce a standardized budget. D. help offset changes in GDP.