When a rare skill contributes to the production of something that consumers value highly the:
A. value of the marginal product is high.
B. marginal product is high.
C. marginal cost per unit is low.
D. total product is high.
A. value of the marginal product is high.
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What is the equilibrium strategy for each firm in a duopolists' dilemma and why do the firms not succeed in colluding to raise the price and profits?
What will be an ideal response?
In the area of taxation, the trade-off between equity and efficiency
A. never occurs since efficient taxes are often the most progressive. B. is relevant as efficient taxes are often regressive. C. is irrelevant. D. is relevant because efficient taxes are often progressive.
An aggregate demand curve
A. shifts to the right when the price level increases and to the left when the price level falls. B. shifts to the right when population decreases and shifts to the left when population increases. C. does not shift, unlike individual or market demand curves. D. shifts to the right when any non-price-level factor increases total planned real spending.
In 2012, corporate income taxes contributed about what percentage of U.S. Federal tax revenues?
A. 10 percent B. 25 percent C. 50 percent D. 70 percent