The "big tradeoff" refers to the tradeoff between
A) work and leisure.
B) equity and efficiency.
C) public goods and private goods.
D) taxes and transfers.
B
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Refer to Table 7-2. Select the statement that accurately interprets the data in the table
A) Madison has an absolute advantage in making empanadas and tacos. B) Austin has an absolute advantage in making empanadas and tacos. C) Madison has an absolute advantage in making empanadas and Austin has an absolute advantage in making tacos. D) Madison has an absolute advantage in making tacos and Austin has an absolute advantage in making empanadas.
The nominal interest rate will be less than the real interest rate when
A) the rate of inflation is negative. B) the real interest rate is negative. C) the rate of inflation is positive and increasing. D) the rate of inflation is positive but decreasing.
When large oligopolistic firms negotiate with the unions of their employees, the resulting bargaining process closely resembles
A. perfect competition. B. a dual labor market. C. monopolistic competition. D. bilateral monopoly.
Payroll taxes are used to collect revenue for the Social Security program
a. True b. False Indicate whether the statement is true or false