Imposing taxes in markets where demand and supply are price inelastic:
A. causes less inefficiency than imposing them in price-elastic markets.
B. causes more inefficiency than imposing them in price-elastic markets.
C. causes no inefficiency.
D. cause the same amount of inefficiency because efficiency is unrelated to market elasticity.
A. causes less inefficiency than imposing them in price-elastic markets.
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Which of the following best describes the Employment Act of 1946?
(a) A piece of New Deal legislation that had to be postponed until after the war (b) An effort to stabilize the U.S. balance of payments as the world moved toward using the U.S. dollar as the main reserve currency (c) An attempt to reduce the overall extent of federal responsibility in the post-war national economy (d) All of the above
Specialization and trade benefits a participating country that: a. specializes in those things they have both a comparative and absolute advantage in
b. specializes in those things they have a comparative advantage in, even if they have an absolute disadvantage. c. They specialize in those things they have an absolute advantage in, even if they have a comparative disadvantage. d. Does either a. or b.
Which of the following was not a major area addressed by the Dodd-Frank Bill (i.e., Wall Street Reform and Consumer Protection Act of 2010)
a. Reducing systemic threats to the U.S. financial system. b. Solving the "too big to fail" problem in the U.S. financial system. c. Preventing spillover effects in the financial industry. d. Ensuring that investment banks and others reduced the amount of "skin in the game" they in the mortgage industry.
If the price of TVs produced by XYZ-TV Company falls from $1,000 to $750 per TV set, then the:
A. supply of labor to the XYZ-TV Company increases. B. supply of labor to the XYZ-TV Company decreases. C. demand for labor by the XYZ-TV Company decreases. D. demand for labor by the XYZ-TV Company increases.