If there is a shortage, there is _____ search activity.
Fill in the blank(s) with the appropriate word(s).
Increased
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Refer to Scenario 16.2. Is the current distribution Pareto optimal?
A) Yes. B) No, as Sam could trade Sally a piece of candy for a tee shirt and both people would be better off. C) No, as Sam could trade Sally a tee shirt for a piece of candy and both people would be better off. D) Without the prices of each commodity it is impossible to determine if this distribution is Pareto optimal.
When bond prices fall, interest rates rise.
Answer the following statement true (T) or false (F)
The payroll tax appears to be a proportional tax. In reality, it is
A. highly progressive. B. actually proportional. C. highly regressive. D. regressive on low-income persons and progressive on high-income persons.
Government goods are delivered "free," which means that they are costless.
Answer the following statement true (T) or false (F)