Answer the following statement(s) true (T) or false (F)
1. When a flat fee pricing system is used, the MPC is coincident with the horizontal axis.
2. A front-end, or retail, disposal charge is a fee levied at disposal on the quantity of waste generated.
3. Unit pricing communicates that a higher level of waste services is associated with a nonzero marginal cost of production.
4. A bag-and-tag system is a type of PAYT program
1. True
2. False
3. True
4. True
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A tax is proportional if, as a person's income rises, the:
a. tax rate is constant. b. tax rate falls. c. tax rate rises. d. amount of the tax is constant. e. amount of the tax falls.
To an economist, slave labor is
a. distasteful, but still the most productive because more output can be produced at alower cost b. considered to be an unskilled labor resource c. a capital good, just as a piece of machinery d. not considered to be a labor resource because it involves coercion e. acceptable as long as a contract exists to address property rights
Unemployment insurance benefits are an example of _____
Fill in the blank(s) with correct word
Which of the following should be kept in mind when policymakers consider efforts to stabilize the economy?
a. The economy responds very quickly to changes in the interest rate and changes in economic conditions are easy to predict. b. The economy responds very quickly to changes in the interest rate and changes in economic conditions are nearly impossible to predict. c. The economy responds to changes in the interest rate with a lag and changes in economic conditions are easy to predict. d. The economy responds to changes in the interest rate with a lag and changes in economic conditions are nearly impossible to predict.