The fraction of additional income spent on imports is called the
A) marginal propensity to export. B) import function.
C) marginal propensity to import. D) trade balance.
C
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Even though government-operated firms do not have to make a profit, they usually operate efficiently
Indicate whether the statement is true or false
Which of the following statements about frictional unemployment is true?
a. It can be eliminated only in a free society. b. It is a long-term unemployment. c. It does not exist in developed economies. d. It is also called structural unemployment. e. It arises when people choose to change jobs.
When Ford hires Ernst and Young Consulting to help Ford redesign its marketing, Ford's payment to Ernst and Young is classified as
A) an explicit cost. B) depreciation. C) an implicit cost. D) normal profit. E) economic profit.
Discuss how taxes affect product and input markets
What will be an ideal response?