The U.S. tax code
a. all of the reasons given as answers
b. to social engineer
c. to raise revenue for government spending
d. is used to help politicians get elected.
Answer: a. all of the reasons given as answers
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________ is a group of firms that have colluded to limit their output and raise their price
A) A cartel B) An oligopoly C) A strategy D) A duopoly
The economy is considered to be at full employment when
a. the actual rate of unemployment is less than the natural rate. b. the leading economic indicators are unchanged for two consecutive quarters. c. structural unemployment is zero. d. frictional plus structural unemployment is less than the natural rate. e. the rate of cyclical unemployment is zero.
Which one of the following interest groups would gain from the imposition of a quota on United States steel imports?
A. United States firms that build skyscrapers of steel and glass. B. Steelworkers in Pennsylvania and Ohio. C. United States industries that use farm equipment and machine tools. D. Foreign producers who sell steel in the United States.
A reduction in the marginal tax-rate includes a substitution effect that tends to increase saving.
a. True
b. False
Indicate whether the statement is true or false