In order to construct a more complete picture of the economic burden of government across income classes, economists usually
a. include tax payments as well as transfer payments received.
b. focus only on the tax payments of wealthy tax payers.
c. limit their analysis to taxes based on the ability-to-pay principle.
d. focus their analysis on issues of tax efficiency.
a
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The figure above shows the demand and cost curves for a single-price monopoly. What economic profit does this firm make?
A) zero B) $600 C) $400 D) $200
In the Malthusian model, improvements in health care lead to
A) higher population and higher per-capita production. B) higher population and lower per-capita production. C) lower population and higher per-capita production. D) lower population and lower per-capita production.
Banks are financial intermediaries, which are institutions that operate between a saver who deposits money in a bank and a ____________ who receives a loan from that bank.
a. lender b. saver c. depositor d. borrower
In most businesses there is only one way to produce output
a. True b. False Indicate whether the statement is true or false