The largest income component in the national income accounts is
a. wages.
b. rents.
c. corporate profits.
d. interest.
a
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Answer the following statement(s) true (T) or false (F)
1. A Pigou tax forces car manufacturers to internalize the cost of pollution. 2. Cap and Trade is so named because the government puts a “cap” on the amount of exports that domestic firms are allowed to “trade” with foreign nations. 3. A Cap and Trade system is more prone to error than a Pigou tax. 4. Pigou taxes are unnecessary in the presence of transaction costs. 5. Pigovian analysis indicates that a subsidy should be awarded when economic activity creates social benefits.
Which of the following shifts the short-run aggregate supply curve?
I. changes in the size of the labor force II. changes in the money wage rate A) I only B) II only C) both I and II D) neither I nor II
Refer to Figure 9.7. Because of the policy, consumer surplus fell by
A) $10. B) $20. C) $12,500. D) $25,000. E) $45,000.
The number of substitutes available has hurt the business of the United States Postal Service.
a. true b. false