Which of the following is a distinguishing characteristic of a user charge?
a. Persons pay roughly in proportion to the extent that they use the good or service.
b. Persons with high incomes pay a larger amount than persons with lower incomes for the same good or service.
c. Persons with high incomes pay a larger percentage of their income than persons with lower incomes for the same good or service.
d. Persons with high incomes pay a smaller percentage of their income than persons with lower incomes for the same good or service.
A
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The relationship between the level of prices and total quantity of goods and services producers are willing to supply is represented by the
A) aggregate supply curve. B) aggregate demand curve. C) sticky price curve. D) GDP multiplier.
Given the data in the above table, the marginal revenue curve
A) lies below the demand curve. B) lies above the demand curve. C) intersects the demand curve. D) is equal to the demand curve.
"Unemployment will decrease because the economy is on an upward swing" is an example of a positive statement
Indicate whether the statement is true or false
Trade barriers are forms of protection that shield some sector of the economy from foreign competition.
Answer the following statement true (T) or false (F)