Father says, "Earn a B-average on your next report card and I'll help you buy a car." An economist would say that this parent is providing his child a(n)
A) study disincentive.
B) reason to slack off and not worry about her grades.
C) bribe.
D) incentive.
D
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"The distribution of income should be determined by the government" is an example of a positive economic statement
Indicate whether the statement is true or false
According to the Law of Demand, the demand curve for a good will
A) shift leftward when the price of the good increases. B) shift rightward when the price of the good increases. C) slope downward. D) slope upward.
With a progressive income tax, as taxable income rises (up to a certain point), one's tax rate rises
Indicate whether the statement is true or false
The benefits principle states that the users of a service should pay for that service.
Answer the following statement true (T) or false (F)