Piecework compensation plans are useful when productivity is difficult to measure
Indicate whether the statement is true or false
False
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Consider the market for gasoline in a moderately large city. All else constant, it would be reasonable to conclude that the price elasticity demand for any individual gas station would be higher (more elastic) than the price elasticity of demand for
gas in general. Indicate whether the statement is true or false
Which of the following is not true about government taxation?
a. It is an indirect way to shift resources. b. It is free of opportunity costs. c. Taxes are levied on both citizens and businesses. d. Taxes are unequally levied among citizens. e. Taxes are a tool for debt reduction.
When a resource price is below equilibrium,
a. excess supply will be present. b. excess demand will be present. c. the supply of the resource will be inelastic. d. the demand for the resource will be inelastic.
Refer to the above figure. Suppose the relevant aggregate demand curve is AD2. If the government wants to use discretionary fiscal policy to close the existing gap, it should
A. decrease government spending. B. increase taxes. C. decrease taxes. D. increase the money supply.