In general, the more equitable the incidence of a tax system is the:
A. less complicated and more efficient is its design
B. more complicated and less efficient is its design.
C. more complicated and more efficient is its design.
D. less complicated and less efficient is its design.
B. more complicated and less efficient is its design.
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Suppose firms in Hong Kong can produce 40,000 plastic dolls or 80,000 squirt guns each week, while firms in Taiwan can produce 40,000 plastic dolls or 40,000 squirt guns each week. Therefore, when we compare the two groups:
A) the costs of production are the same in each country. B) the people in Hong Kong are the most efficient producers of both plastic dolls and squirt guns. C) the people in Taiwan produce plastic dolls with the same efficiency as Hong Kong. D) none of the above are true.
The experience of the United States and other industrialized countries in the 1930s contradicts the classical view of the labor market where the money wage adjusts quickly to maintain full employment. On this issue
a. the Keynesians agree but the monetarists disagree. b. the monetarists agree but the Keynesians do not agree. c. both the Keynesians and monetarists are in agreement. d. neither the Keynesians nor the monetarists agree.
Given the aggregate demand curve, an increase in the supply of a productive resource will:
a. increase output but leave prices unchanged b. decrease both output and prices. c. increase the price level and decrease output. d. decrease the price level and increase output. e. increase the price level but leave output unchanged.
Oligopolies are difficult to analyze because of the interdependent nature of management decisions
a. True b. False Indicate whether the statement is true or false