Consumption will generally increase when the income tax rate ________ or transfer payments ________.
A. increases; increase
B. increases; decrease
C. decreases; increase
D. decreases; decrease
Answer: C
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Refer to Figure 7-2. The market equilibrium quantity is ________ thousand vaccinations
A) 200 B) 400 C) 600 D) > 600
The return on wealth (both human and nonhuman) is
A) a stock variable. B) income. C) measured in the form of bonds. D) a stock or flow variable depending upon whether the wealth is in the form of bonds or other financial assets.
A profit-maximizing firm will base its supply decisions on its marginal:
a. private cost. b. social cost. c. external cost. d. transactions cost.
Difficulty in prediction social sciences is the result of analyzing ____ but can be overcome by focusing on ____ groups
a. experiments; small groups b. experiments; large groups c. human behavior; small groups d. human behavior; large groups