Excise taxes on products like gasoline and tobacco are regressive.
Answer the following statement true (T) or false (F)
True
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"The Balance of payments is always balances." Discuss
What will be an ideal response?
A cost curve drawn with years on the horizontal axis and costs per unit on the vertical axis would be a(n)
A. analytical cost curve. B. long-run cost curve. C. historical cost curve. D. theoretical cost curve.
"Reagonomics" was consistent with supply-side economics except for the fact that it
a. pushed for lower money growth. b. called for higher total government spending. c. pushed for tax cuts. d. pushed for reductions in nonmilitary government spending.
Suppose that a firm uses both labor (L) and capital (K) as inputs. The firm's long-run production function is Q = F(L,K) = 5?L?K. The firm has 100 units of capital. If the firm uses an efficient production method, how much output does it produce in the short run if it hires 25 workers?
A. 250 units B. 1,250 units C. 2,500 units D. 50 units