An increase in the excise tax on alcohol
a. will have no effect on alcohol consumption.
b. will generate minimal tax revenues for the federal government.
c. coupled with a uniform drinking age nationwide would save lives.
d. will generate substantial revenues is demand is elastic.
e. all of the above.
C
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The rate of unemployment is found by
A) dividing the number unemployed by the number of people in the labor force. B) dividing the number employed by the number of people in the labor force. C) dividing the number unemployed by the number employed. D) dividing the number employed by the number unemployed.
In the above figure, if the real wage is $20 per hour, a labor
A) shortage will occur and the real wage will rise. B) shortage will occur and the real wage will fall. C) surplus will occur and the real wage will rise. D) surplus will occur and the real wage will fall.
According to economist Benjamin Friedman, sustained economic growth can make people more willing to work toward improving the environment and reducing poverty
Indicate whether the statement is true or false
The United States has experienced both budget surpluses and deficits since 2000.