The Army Corps of Engineers has been accused of acting on the basis of a so-called “edifice complex.”
Answer the following statement true (T) or false (F)
True
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A head tax applied to each person in the United States would
A. always be proportional. B. not significantly distort incentives to work. C. generally be a progressive tax. D. likely have significant shifting of tax incidence.
Evaluate the following statement. "If marginal product is falling it will bring down the average product."
What will be an ideal response?
Which is a distortion (a loss of social surplus) associated with a monopolist's inability to observe consumer types when constructing a nonlinear pricing scheme?
a. The monopolist must expend more resources on market research. b. All bundles involve inefficiently low quantities. c. Some but not all bundles involve inefficiently low quantities. d. Quantities aren't distorted, but prices extract too much consumer surplus.
Refer to the above figure. Which panel is consistent with the Fed selling bonds?
A. Panel A B. Panel B C. Panel C D. Panel D