Neutral taxes do not impose excess burdens.
Answer the following statement true (T) or false (F)
True
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The long-run supply curve of an industry equals the industry’s
A. long-run marginal cost curve. B. the horizontal sum of all firms’ supply curves at any point in time. C. long-run average cost curve. D. long-run total variable cost curve.
Suppose we observe a substantial increase in the price of a good, and, at the same time, an increase in the quantity of the good demanded. What can we conclude?
A) The law of supply is untrue. B) Consumers haven't followed the law of demand. C) The demand curve has shifted to the right. D) The good is a luxury good.
A country's balance of payments accounts records
A) only the goods and services purchases among countries over a period of time. B) the international trading, borrowing, and lending positions of a country over a period of time. C) the flow of human and non-human capital among countries over a period of time. D) only official transactions between governments over a period of time.
What are the three types of unemployment and how do they change over the business cycle?
What will be an ideal response?