The large increase in mandatory spending over recent years is due largely to ______.
a. wars and terrorism
b. high immigration
c. an aging population
d. poorly maintained roads
c. an aging population
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The above figure shows the market for blouses. The government decides to impose the sales tax on sellers, as shown in the figure. Using the figure, what is the tax per blouse?
A) $10 per blouse B) $20 per blouse C) $30 per blouse D) $40 per blouse
Which of the following is true of a demand curve? a. It must remain stable over time
b. It can shift either rightward or leftward. c. It is possible to move along the curve, but the demand curve will not shift. d. None of the above are true.
Define the following terms and explain why they are important in the study of economics
a. efficient allocation b. laissez faire c. peak pricing d. input-output analysis e. coordination tasks
In the indifference curve-budget line model of labor supply, labor consists of
a. all productive activities outside of the marketplace. b. working in the marketplace for the going wage. c. engaging in productive activities, whether in the marketplace or not. d. working in the marketplace for the going wage and entrepreneurial activities.