"It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax?
a. Ability-to-pay
b. Inexpensive-to-collect
c. Fairness of contribution
d. Benefits-received
a
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If all inputs are raised by equal percentages and output increases by a larger percentage, there are decreasing returns to scale
Indicate whether the statement is true or false
Because it is
a. neither excludable nor rival in consumption, a tornado siren is a common resource. b. neither excludable nor rival in consumption, a tornado siren is a public good. c. excludable but not rival in consumption, a tornado siren is a club good. d. rival in consumption but not excludable, a tornado siren is a common resource.
Comparable worth laws:
A. may correct institutional biases in the labor market. B. always distort market outcomes because they interfere with the price mechanism. C. are necessary even when wages are completely determined by the interaction of labor supply and labor demand. D. are necessary even when institutional biases do not exist.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A. B. C to D. C. B to D. D. A to C.