As the baby boomers reached their prime working years, there was
A. No change in productivity.
B. A decrease in average productivity.
C. A decrease in total productivity.
D. An increase in average productivity.
Answer: D
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Which of the following is FALSE with respect to regulation?
A) Regulated firms commonly try to avoid the effects of regulation whenever they can. B) Firms engage in creative responses which conform to the letter of the law but undermine its spirit. C) Regulation has resulted in state laws that have made creative response illegal in many states. D) Recent regulations have generated feedback effects that undermined the key aim of the rules.
"Regulations do not always have the intended result." Do you agree or disagree? Why?
What will be an ideal response?
A regressive tax
a. taxes individuals with higher incomes at a higher rate than individuals with lower incomes. b. takes a similar percentage of income at all income levels. c. takes a higher percentage of the income of those with lower incomes than for those with higher incomes. d. taxes savings at a higher rate than consumption.
If a small country imposes a tariff on an imported good, domestic sellers will gain producer surplus, the government will gain tariff revenue, and domestic consumers will gain consumer surplus
a. True b. False Indicate whether the statement is true or false