A small business owner who is earning a positive economic profit, no matter how small, is doing better than if she sold her business and went to work for another firm
a. True
b. False
Indicate whether the statement is true or false
True
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When the natural unemployment rate increases, the short-run Phillips curve ________ and the long-run Phillips curve ________
A) shifts rightward; shifts rightward B) does not shift; shifts leftward C) shifts rightward; does not shift D) shifts leftward; does not shift E) shifts leftward; shifts rightward
Can the Federal Reserve achieve both low inflation and low levels of unemployment? Explain
What will be an ideal response?
If health care spending is already on the flat-of-the-curve, it may not be possible to buy improved health status by increasing spending. In this situation, the best way to improve health status may be to
a. increase the availability of government health insurance. b. invest in biotechnology to determine the genetic factors that improve health. c. improve life-style decisions by reducing smoking, alcohol consumption, and drug use. d. improve access to medical care. e. improve overall educational attainment so people can better follow the advice from the medical community.
If Luis makes $50,000 per year as a computer programmer and pays $6,000 in taxes while Hector makes $50,000 per year as a roofing contractor and pays $7,000 in taxes, this is an example of
A. A flat tax. B. Horizontal inequity. C. A regressive tax system. D. Vertical inequity.