Tax loopholes in the personal income tax benefit only very rich people
a. True
b. False
Indicate whether the statement is true or false
False
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In the figure above, the demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the government imposes a rent ceiling of $500 per month. In the short run there will be
A) a surplus of apartments. B) a shortage of 200,000 apartments. C) a shortage of 300,000 apartments. D) neither a shortage nor a surplus of apartments.
One concern about globalization is that while it may be benefiting ____________ workers in the United States, it may also impose costs on ____________ workers.
a. low-skilled, low-wage; high-skilled, high-wage b. high-skilled, high-wage; low-skilled, low-wage c. low-skilled, low-wage; semi-skilled, medium-wage d. semi-skilled, medium-wage; high-skilled, high-wage
Other things the same, technological progress raises the price level
a. True b. False Indicate whether the statement is true or false
Under which one of the following conditions will economic theory indicate that all of a resource should be consumed in the current period?
a. Whenever the discount rate is positive b. When the marginal net benefits in the current period are always greater than the marginal net benefits in the future c. When substitute resources are available d. When the marginal net benefits in the future are not discounted e. When the users costs are positive Feedback