The fastest growing source of federal tax revenue is the _____ tax.
A. personal income
B. corporate income
C. payroll
D. excise
C. payroll
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The following expressions describe a perfectly competitive labor market. The labor supply curve is:
SL = AE = $3.00 + $0.000375L. The marginal revenue product of labor curve is: MRPL = $13.00 - 0.000433L. a. Find the equilibrium wage in this labor market. Also, find the optimal number of labor hours worked per week. Let L represent the number of labor hours worked per week, and let W represent the hourly wage of workers. b. Determine the economic rent earned by labor in this situation.
Trade-offs are involved in most policy decisions
a. True b. False Indicate whether the statement is true or false
A central policy concern about inflation is to see that it:
A. does redistribute income. B. does not redistribute income. C. does become built into expectations. D. does not become built into expectations.
The demand by all the consumers of a given good or service is the ________ for the good or service
A) market demand B) quantity demanded C) law of demand D) scheduled demand