Which of the following would be most likely to improve the standard of living of the residents of a less-developed country?
What will be an ideal response?
an increase in expenditures on education and capital investment
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Once supply side effects are taken into account, tax cuts for labor income can change
i. the supply of labor. ii. potential GDP. iii. the growth rate of potential GDP. A) iii only B) ii only C) i only D) i and ii E) i and iii
Refer to Figure 4.1. Alvin's available strategies include
A) top and bottom. B) up and down. C) left and right. D) all of the above
When MR a. Demand is flat
b. Demand is upright
c. Demand is elastic
d. Demand is inelastic
From society's perspective, the deadweight loss associated with a positive externality occurs because: a. producers bear the true cost of producing the good involved in the transaction
b. producers do not bear the true cost of producing the good involved in the transaction. c. consumers do not internalize the externality. d. consumers internalize the externality.