No tax can lead the economy to higher levels of efficiency.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Assume a monopolistically competitive firm comes up with a new innovation that allows it to earn above-normal economic profits
Given the nature of the market in which it operates, over time those profits will be competed away as new competitors enter the market. Indicate whether the statement is true or false
A numeraire is
A) an average good. B) a tax levied on each consumer. C) a good used as a unit of account. D) an optimal bundle of goods.
The supply of public goods must be left to government and nonprofit institutions. Why?
When a demand curve is expressed in log-linear form, such as log(Q) = a - b log(P) + b2 log(P2) + c log(I), the coefficients of the demand determinants correspond to:
A. changes in determinants other than price. B. the parameters that may fluctuate in value. C. the independent variables in the model. D. the elasticity values of those determinants.