To raise the most tax revenue, governments should consider taxing goods whose
a. income elasticity of demand is high
b. price elasticity of demand is low
c. income elasticity of supply is low
d. income elasticity of demand is high
e. cross elasticity of demand is positive
B
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Which of the following is NOT directly related to human capital?
A) a summer internship B) an MRI machine C) an understanding of real estate markets D) a college education E) knowledge of computer programing
Based on the production data for Pat's Pizza Parlor in the above table, the average product of labor when 4 workers are hired is ________ pizzas
A) 8 B) 10 C) 11.25 D) 45
Any point on the lowest indifference curve is preferable to a point on a higher indifference curve
a. True b. False Indicate whether the statement is true or false
In the open-economy macroeconomic model, if investment demand increases, then
a. net exports and the real exchange rate rise.
b. net exports rise and the real exchange rate falls.
c. net exports fall and the real exchange rate rises.
d. net exports and the real exchange rate fall.