The rule that states that the marginal revenue product equal to price does not hold when there are more than two inputs
a. True
b. False
Indicate whether the statement is true or false
False
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What is poverty and how does its incidence vary across the races?
What will be an ideal response?
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, the amount of consumer surplus domestic consumers enjoy once a tariff has been imposed is:
A. ABC B. ABCDEFGHIJKL C. A D. ABCDEFG
Sales and excise taxes tend to be ___________ because low income people tend to spend a _________ fraction of their income than high income people.
A. progressive; larger B. regressive; larger C. progressive; smaller D. regressive; smaller
Regarding structural deficits, which of the following assertions is true?
A. The structural deficit depends on the state of the economy. B. The structural deficit is based on actual expenditures and receipts. C. The structural deficit changes only when policy changes. D. The structural deficit changes when GDP changes.