A pollution tax has the effect of reducing the costs of production for a firm, leading to a rightward shift of the supply curve
a. True
b. False
Indicate whether the statement is true or false
False
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The law of increasing opportunity cost states that
A. as output increases the marginal cost does not change. B. as output increases the marginal cost increases. C. as output decreases the marginal cost increases. D. as output increases the marginal cost decreases.
If the unemployment rate drops, then it necessarily follows that some of the people who were once unemployed are now employed
Indicate whether the statement is true or false
Which of the following is considered a nonrenewable natural resource?
A. Wind. B. Timber. C. Oceans. D. Tin.
When the wage falls:
A. all workers will work more hours. B. all workers will work fewer hours. C. some workers will work more hours and some workers will work fewer hours, but on average, hours worked will fall. D. some workers will work more hours and some workers will work fewer hours, but we don't know whether average hours will increase or decrease.