In the United States, income taxes are collected from two different sources: households and corporations
Indicate whether the statement is true or false
TRUE
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Using the economic way of thinking, what is the least efficient use of water?
A) Drinking B) Bathing C) Filling balloons D) It depends on the water user's estimate of cost and benefit.
The ways to address agency costs include all EXCEPT
a. running background checks on prospective employees b. hiring only from job fairs c. spot checks of the quality of employee work d. replacing closed offices with cubical office spaces
Which economist(s) first identified an inverse relationship between inflation and unemployment?
a. Robert Lucas and Thomas Sargent. b. W. Phillips. c. Robert Barro. d. Paul Samuelson. e. Arthur Laffer.
Which of the following statements is not correct?
a. A patent is a way for the government to encourage the production of a good with technology spillovers. b. A tax is a way for the government to reduce the production of a good with a negative externality. c. A tax that accurately reflects social costs produces the socially optimal outcome. d. Government policies cannot improve upon private market outcomes.