The welfare effects of a quota depend, to considerable extent, upon
A) who has the quota license.
B) the size of the quota.
C) elasticities of domestic demand and supply.
D) all of the above.
D
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During 2005, the tax rate on the top income bracket in the U.S. tax system was _____
a. 28 percent b. 31 percent c. 35 percent d. 39 percent
Other things the same, if the price level is lower than expected, then some firms believe that the relative price of what they produce has
a. decreased, so they increase production. b. decreased, so they decrease production. c. increased, so they increase production. d. increased, so they decrease production.
GDP does not directly include:
a. the value of final goods and services produced, but not sold, during a period.
b. the value of services rendered during a period
c. the value of intermediate goods sold during a period.
d. any of the above.
Which of the following is correct?
a. The labor-force participation rate of women has increased in part due to smaller families.
b. The labor-force participation rate of men has decreased in part due to men retiring younger and living longer.
c. Both a and b are correct.
d. Neither a nor b is correct.