The federal government gets most of its revenue from
A. personal income taxes.
B. property taxes.
C. sales taxes.
D. payroll taxes.
A. personal income taxes.
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In an open economy, the quantity demanded of TVs in the domestic market will be ________. 
A. 120,000 B. 30,000 C. 90,000 D. 60,000
Scooters are a normal good and buyers' incomes decrease. Which of the figures above best illustrates how this change affects the demand curve for scooters?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the above answers is correct because the decrease in income will affect the supply curve not the demand curve.
Under conditions of perfect competition, an individual producer
a. always maximizes output. b. operates where MR equals MC. c. never suffers a loss. d. operates where MR is greater than MC.
Unions can increase their wage rates by
a. all of the following b. decreasing the supply of labor c. using the threat of a strike d. increasing the proportion of union workers in the industry e. increasing the demand for the product they produce and, therefore, the demand for their labor services