A decrease in the personal income tax rate ________ disposable income which ________ consumption
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
A
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In which way are tariffs different from quotas?
A) They reduce the volume of imported products. B) They raise the price of the imported products to consumers. C) They increase the domestic quantity supplied of the product. D) They raise government revenue.
North's (1955) theory of economic location is that of "balanced growth"—many industries in each region must advance at about the same time in order for economic growth to occur
Indicate whether the statement is true or false
Suppose the value of price elasticity of demand for goods manufactured by firms A, B, C, and D are 0, -0.8, -1, and -1.5 respectively. The demand for the good will be elastic for:
a. firms A, B, C, and D. b. firms B, C, and D. c. only firm A. d. firms C and D only. e. only firm D.
Which of the following is a major reason for offshoring?
a. The gradual reduction in information and communication technologies. b. The fragmentation of production processes. c. The gradual decline in worldwide competition. d. All of the above are major reasons for offshoring.