Countries in which the government heavily regulates the labor market are likely to have ________ sacrifice ratio.
A. an infinite
B. a high
C. a low
D. a negative
Answer: B
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Social Security taxes are
A) progressive because all workers pay the tax. B) regressive because higher income workers pay taxes on a smaller percentage of their income. C) proportional because everyone is charged the same percentage tax rate. D) regressive because higher income workers don't pay the tax.
When private costs equal social costs, it means that:
A. negative externalities are not present in the market. B. positive externalities are present in the market. C. the external cost must be small relative to the private cost in the market. D. no externality of any kind is present in the market.
The downward slope of the demand for money curve is created by the:
a. transactions demand for money. b. precautionary demand for money. c. speculative demand for money. d. all of these.
You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 120 ? 6Q, where Q = Q1 + Q2. The marginal costs associated with producing in the two plants are MC1 = 2Q1 and MC2 = 4Q2. What price should be charged in order to maximize revenues?
A. 24 B. 60 C. 2 D. 6