A decrease in the wage rate is represented as an upward movement along the labor supply curve
a. True
b. False
Indicate whether the statement is true or false
False
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If a firm can segment its market, and the parts cannot communicate among themselves, then
A) arbitrage can occur. B) prices in the segments will tend to be equal over time. C) arbitrage cannot occur. D) the different elasticities will be equal over time.
There is an inverse relationship between the interest rate and the quantity of money demanded
a. True b. False Indicate whether the statement is true or false
Which of the following statements is correct?
a. A tax levied on buyers will never be partially paid by sellers. b. Who actually pays a tax depends on the price elasticities of supply and demand. c. Government can decide who actually pays a tax. d. A tax levied on sellers always will be passed on completely to buyers.
State and local governments
a. are funded entirely by their own tax base. b. receive the majority of their tax revenues from corporate income taxes. c. are generally not responsible for collecting sales taxes. d. receive some of their funds from the federal government.