The supply curve for the pure monopolist is upsloping.
Answer the following statement true (T) or false (F)
False
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Explain how a tax cut effects employment, labor productivity, and potential GDP
What will be an ideal response?
When city beautification programs are funded privately: a. only contributing citizens are likely to benefit from a more beautiful city
b. only free riders are likely to benefit from a more beautiful city. c. an underallocation of resources toward the beautification project is likely to occur relative to what is socially efficient. d. none of the above
The Latin term caveat emptor, meaning "let the buyer beware," brings to mind the problem of
a. hidden actions. b. adverse selection. c. principals and agents. d. moral hazard.
If the consumption function is C = 750 + .75Y and there are no income taxes, then the expenditure multiplier is
a) .75 b) .25 c) 4.0 d) 3.0 e) 1,000