Workers at Walmart are paid ________ their unionized counterparts.
A. more than
B. less than
C. the same as
D. much more than
Answer: B
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If tax rates in a country increase, ________
A) the unemployment rate in the country will fall B) the gross domestic product of the country will decrease C) the country's expenditure on consumption will increase D) the aggregate price level of the country will rise
As a percentage of total federal revenue, excise taxes have _____
a. risen slightly since 1960 b. remained constant since 1960 c. risen considerably since 1960 d. fallen since 1960
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. The slope of Country A's production possibilities frontier:
A. measures the opportunity cost of trucks in terms of cars.
B. measures the trade-off that Country A face when deciding how to allocate resources.
C. is constant because the opportunity cost remains constant.
D. All of these statements are true.
Public choice analysis indicates
a. most income transfers will be directed toward the poor. b. rent-seeking activities will improve the efficiency of resource allocation and promote economic growth. c. rent seeking will be less attractive if the nation's legal (or constitutional) structure makes it difficult to use the political process to take the property or income of others. d. politicians will consistently oppose programs favored by rent seekers if those programs reduce the welfare of society.