One of the reasons that President Bush advocated for the 2003 tax reform was
a. to create a ‘stimulus package' to counter a deepening of the recessionary phase ofthe business cycle
b. to stem the growing rate of inflation
c. to provide the revenues to fight the war on terrorism
d. to curb the outflow of revenue to foreign countries by reducing trade imbalances
e. to reduce the government deficit
A
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At any quantity, the marginal factor cost is always
A) parallel to the marginal revenue product. B) below the labor supply curve. C) above the labor supply curve. D) above the labor demand curve.
Changing prices cause changes in the supply of a good and therefore result in movements along a given supply curve
a. True b. False Indicate whether the statement is true or false
Money’s function as a unit of exchange means that ______.
a. Jorge can compare the value of apples to the value of a new lamp b. Michael can deposit money into an account where it will be safely stored until a later date. c. Kelly can pay for her lunch using the $20 bill in her wallet. d. Calista can pay back a loan at a future date without risking great fluctuations in the value.
Assume the price of cola is $8 per unit and the price of pretzels is $4 per unit. Table 19.3Michael's Utility ScheduleUnits of ColaTU of ColaMU of ColaUnits of PretzelsTU of PretzelsMU of Pretzels14040130302 322 2039624366164112 478 5124 584 Refer to Table 19.3. If Michael has $40 to spend on cola and pretzels, what is his maximum utility possible?
A. 190. B. 40. C. 208. D. 174.