Which of the following statements is FALSE about the issues faced by the government when contemplating a tax?
A) Consideration must be given to how tax rates relate to the amount actually received.
B) Consideration must be given to how taxes influence market prices.
C) Consideration must be given to how taxes influence equilibrium quantity.
D) Consideration must be given to the amount of funds the government will be receiving from the transfer payments paid by the public to the government.
Answer: D
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In the short run, monopolistically competitive firms behave like ________________, but in the long run, the profit of a firm is similar to that of ________________.
A. monopolies; perfectly competitive firms B. perfectly competitive firms; monopolies C. monopolies; oligopolies D. oligopolies; perfectly competitive firms
If Electro is a retailer of ductile iron pipes manufactured by Steelfact Corporation, an agreement between these two companies will be called a horizontal agreement
Indicate whether the statement is true or false
In the long run, the price level in an economy is determined solely by _____
Fill in the blank(s) with the appropriate word(s).
Of the dozens of studies that study the effect on wages, most of the studies show that immigration decreases the wages of
A. native workers with low levels of education. B. native PhD holders. C. foreign PhD holders in the U.S. D. college students.