On the graph showing the Laffer curve, tax revenues are lowest at ______.
a. point B
b. point C
c. points B and D
d. points A and E
d. points A and E
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Refer to the scenario above. Tom will receive ________ if he raises his right hand and Sam raises his left hand
A) 3 candy bars B) 0 candy bars C) 2 candy bars D) 1 candy bar
Pennsylvania's largest grower of fresh-to-market tomatoes announced in March 2009 he will no longer produce the crop. The acreage he previously devoted to tomatoes and pumpkins will be converted to field corn that is harvested by machines
Of the following, which could have led to the shift from labor intensive tomato production to field corn? A) The market price of tomatoes increased. B) Farm workers' reservation wage fell. C) The wage rate for farm workers increased. D) All of the answers are true.
The exchange rate states the price, in terms of one currency at which another currency can be bought.
Answer the following statement true (T) or false (F)
An inferior good is one for which
A) demand increases as income increases. B) demand decreases as income increases. C) the demand curve is vertical. D) the demand curve slopes up.