A poll tax is
a. the same as a head tax and is regressive
b. the same as a head tax and is proportional
c. the same as an excise tax and is progressive
d. the same as a property tax and is regressive
e. a tax on voting
A
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Which of the following are arguments that have been and currently are used to justify protectionism?
(a) The infant industry argument (b) Tariffs create lower profits, generate fewer jobs, and reduce wages in the U.S. (c) Countries should not operate on the basis of comparative advantage. (d) All of the above
The money demand curve is
a. downward sloping b. upward sloping c. horizontal d. vertical e. has an inverted V-shape.
When the marginal product of labor diminishes,
a. average fixed cost rises. b. average variable cost is constant. c. marginal cost rises. d. average total cost must rise. e. total cost rises at a diminishing rate.
Which of the following would increase the demand for labor? (i) a decrease in the output price (ii) an increase in the output price (iii) a labor-saving technological advance (iv) a labor-augmenting technological advance
a. (i) only b. (i) and (iii) only c. (ii) only d. (ii) and (iv) only