Technological advance is shown as a(n):
A. movement from a point inside a production possibilities curve to a point on the curve.
B. movement along a production possibilities curve.
C. outward shift of a production possibilities curve.
D. inward shift of a production possibilities curve.
Answer: C
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A right-to-work law makes it illegal
A) to prevent union members from working in any firm. B) to fire a worker who has joined a union or who tries to organize a union at any firm. C) to inquire whether a prospective employee is a member of a union or not. D) for union membership to be a requirement for continued employment in any firm.
If an economy experiences deflation, the real interest rate
A) will be less than the nominal interest rate. B) will be negative when the nominal interest rate is positive. C) will be greater than the nominal interest rate. D) will be equal to the deflation rate, so long as the nominal interest rate is positive.
Given the following information on the tax paid for different levels of taxable income, fill in the average and the marginal tax rates for each income level. Also explain how to calculate the average tax rate and the marginal tax rate. Is this tax
progressive?
Any increase in efficiency increases output available for distribution
a. True b. False Indicate whether the statement is true or false