Which of the following is not correct?
a. Economists who argue that labor taxes are highly distorting believe that labor supply is fairly elastic.
b. Economists who argue that labor taxes are not highly distorting believe that labor supply is fairly inelastic.
c. Economists who argue that labor supply is fairly inelastic cite elderly workers who adjust the date they retire as an example.
d. Economists who argue that labor supply is fairly elastic cite workers who adjust the hours of overtime that they work as an example.
c
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________ is a company that provides advice to firms issuing new securities, underwrites the issuing of securities, and develops new securities
A) A mutual fund B) A pension fund C) A hedge fund D) An investment bank
If a country's income is rapidly increasing it must:
A. have a high level of growth. B. have a high level of income. C. have a lot of room to expand. D. be well-endowed with natural resources.
Which of the following constitutes an implicit cost to the Johnston Manufacturing Company?
A. Payments of wages to its office workers. B. Rent paid for the use of equipment owned by the Schultz Machinery Company. C. Use of savings to pay operating expenses instead of generating interest income. D. Economic profits resulting from current production.
If the graph shown represents Hanna's budget constraint, and the price of hairbands were to decrease, the slope of Hanna's budget constraint would become:
A. flatter, reflecting the fact that earrings are now relatively more expensive. B. flatter, reflecting the fact that hairbands are now relatively more expensive. C. steeper, reflecting the fact that hairbands are now relatively less expensive. D. steeper, reflecting the fact that earrings are now relatively less expensive.