Output per worker hour is known as
A. potential output.
B. labor productivity.
C. per capita output.
D. all of the above.
Answer: B
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Refer to the figure above. What is the equilibrium price after the demand curve shifts to D2?
A) $20 B) $40 C) $60 D) $80
A cut in the payroll tax will tend to cause, other things the same, ________
A) a change in aggregate demand, with no effect on supply B) a change in both aggregate demand and supply C) a change in aggregate supply, with no effect on demand D) no change in either aggregate demand or supply
Which of the following is NOT a characteristic of rent controls?
A. Greater availability of apartments B. Lower expenditures on maintenance C. Fewer newly built apartment buildings D. Excess demand for apartments
There are two coal-burning electrical utilities-one in tiny, rural Moscow, Idaho, and another in metropolitan Detroit, Michigan-and each produces the same amount of pollution per unit of output. If a permit tax is going to be used to force these firms to internalize pollution costs, the tax levied should be
A. higher in Detroit than in Moscow. B. less than zero in each area. C. the same in each city. D. higher in Moscow than in Detroit.