In 2010, the net national debt was about $9 trillion or approximately $29,000 per person
a. True
b. False
Indicate whether the statement is true or false
True
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What would be the effect on the labor supply curve of a higher income tax rate?
A cut in the income tax rate ________ the tax wedge and ________ employment, saving, and investment
A) decreases; increases B) increases; increases C) does not change; increases D) decreases; does not change E) increases; decreases
Discuss the conditions that define perfect competition
Angela, Bonnie, and Carl are visiting the local paint store. Angela, owner of Angela's Artful Painting Co, is posting a Help Wanted sign because she is looking for more painters to join her crew. Bonnie, who is a sole proprietor, is placing an order for 12 gallons of green paint. Carl is a painter who is looking for a job and is reading the bulletin board in the paint shop. Who is operating in
the short run? a. Angela and Bonnie b. Angela and Carl c. Angela only d. Bonnie only e. Carl only