Common property can lead to market failure
Indicate whether the statement is true or false
False
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A tax elasticity of supply equal to 0.21 indicates that
A. Workers will cut back on the number of hours worked if tax rates increase. B. Employers will hire more workers if tax rates increase. C. Employers will not hire any workers if tax rates increase. D. Workers will not cut back on the number of hours worked if tax rates increase.
Two government organizations that are responsible for initiating actions against possible antitrust cases are:
A. the Department of Justice and the Department of Commerce. B. the Department of Commerce and the Federal Reserve. C. the Department of Justice and the Federal Trade Commission. D. the Department of Labor and the Department of Commerce.
Which of the following best describes a situation where research is considered appropriable?
A) research that is well suited to its commercial purpose B) research that is easily copied by another firm C) research that translates into many new products D) all of the above E) none of the above
The liquidity trap refers to the portion of the money demand curve that is
A. Upward-sloping. B. Downward-sloping. C. Vertical. D. Horizontal.