Globalization can increase wage inequality in the United States if international competition is primarily in industries requiring ________ workers.
A. low-skilled
B. many
C. few
D. highly-skilled
Answer: A
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If production displays diseconomies of scale, the long-run average cost curve is
A) above the long-run marginal cost curve. B) downward sloping. C) above the short-run average total cost curve. D) upward sloping.
According to projections for 2016 by the Tax Policy Center, the 20 percent of U.S. taxpayers who make the highest incomes
A) pay about 92 percent of federal income taxes but only about 20 percent of Social Security and Medicare payroll taxes. B) pay more in excise and other taxes than they pay in Social Security and Medicare payroll taxes. C) pay almost 69 percent of federal income taxes. D) use loopholes and tax exemptions to reduce their share of federal income taxes to less than 20 percent.
In a market where a positive externality is present, the effect of a government subsidy would be to ensure:
A. a more fair distribution of surplus. B. an efficient outcome. C. that those who enjoy the benefit receive the surplus. D. All of these statements are true.
All competitive firms earn zero economic profit in both the short run and the long run
a. True b. False Indicate whether the statement is true or false