If two families are identical with respect to size, income, general expenses, etc., and are taxed equally, we say that there is
a. horizontal equity.
b. vertical equity.
c. observance of the ability-to-pay principle.
d. intergenerational equity.
a
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Use the following graph for a competitive market to answer the question below.
Assume the government imposes a $3 tax on buyers, which results in a shift of the demand curve from D1 to D2. The price the consumer pays for the product after the tax is imposed on the buyer is
A. $7. B. $3. C. $8. D. $5.
Which of the following Federal Reserve Banks carries out the decisions of the FOMC?
A) the Kansas City Federal Reserve Bank B) the New York Federal Reserve Bank C) the Dallas Federal Reserve Bank D) the San Francisco Federal Reserve Bank E) the Atlanta Federal Reserve Bank
In agriculture, where firms producing similar goods are often located near each other, supervision of neighboring firm activity is fairly easy. When these firms come together formally to agree on price and restraint of output, their organization is called a(n)
a. collusive venture b. cartel c. cooperative d. agricultural merger e. conglomerate
Given the following information, how many people are in the labor force? 4 million people are collecting unemployment insurance; 8 million people are officially unemployed; 3 million people are discouraged workers; and 115 million people are employed.
What will be an ideal response?