The demand for labor is:
a. derived demand.
b. featherbedding demand.
c. marginal utility demand.
d. all of these.
a
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Arguments that economic growth must be constrained by environmental problems and limits of natural resources ignore the fact that economic growth can:
A. occur with only benefits and no economic costs. B. take the form of improved quality as well as increased quantity. C. increase both average labor productivity and the share of population employed. D. be measured in both nominal and real terms.
When comparing perfect competition and monopolistic competition, we find that
A) firms in monopolistic competition produce identical products just as do firms in perfect competition. B) firms in monopolistic competition face barriers to entry, unlike firms in perfect competition. C) advertising plays a large role in monopolistic competition, unlike in perfect competition. D) firms in monopolistic competition are price takers just as is the case for firms in perfect competition.
A progressive tax system is one in which the tax rate actually increases as income rises
a. True b. False Indicate whether the statement is true or false
If a government wanted to increase the prosperity of a nation, it could best serve this goal by
a. protecting domestic industries from international trade, thus encouraging domestic growth. b. regulating the way in which firms can operate. c. reducing barriers that restrict the ability of potential competitors to enter markets. d. subsidizing firms that are in danger of going out of business.