Income is created when
a. individuals supply others with productive resources that they value.
b. the government levies taxes on some and transfers the revenues to others.
c. the general level of prices increases.
d. shares of stock are sold from their current owner to another party.
A
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Collective bargaining can:
A) makes it easier for workers outside a union to get jobs. B) increase profitability of firms. C) reduce wages. D) increase unemployment.
Monopolistic competition does not display allocative efficiency in either the short run or the long run
a. True b. False Indicate whether the statement is true or false
As the number of billboards for a firm's product increases from 100 to 500, its sales increase from $1,000 to $10,000. If this information is plotted on a line chart, the slope of the line equals ________.
Will a price floor always result in a reduction in efficiency?
What will be an ideal response?