Data suggests that the tax cuts of the 1980s significantly decreased the supply of labor in the United States.
Answer the following statement true (T) or false (F)
False
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Refer to Figure 10-6. The loanable funds market is in equilibrium, as shown in the figure above
As a result of an increase in the government budget deficit, the ________ for loanable funds will ________, thereby ________ the equilibrium real interest rate and ________ the equilibrium quantity of loanable funds. A) supply; rise; decreasing; increasing B) demand; fall; decreasing; decreasing C) demand; rise; increasing; decreasing D) supply; fall; increasing; decreasing
Total product is maximized where
A) average product is maximized. B) marginal product is maximized. C) average product is equal to 0. D) marginal product is equal to 0.
The most essential economic problem is the existence of: a. both an increasing population and the depletion of natural resources. b. both limited economic resources and unlimited desires
c. both inflation and unemployment. d. income inequality and economic freedom.
Governments seeking to maximize total tax revenue will place unit taxes on goods with the
a. b and c b. lowest income elasticity c. highest cross elasticity d. lowest price elasticity e. fewest complements