Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A.
B. A to C.
C. C to D.
D. B to D.
Answer: B
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Governments seeking to maximize total tax revenue will place unit taxes on goods with the
a. b and c b. lowest income elasticity c. highest cross elasticity d. lowest price elasticity e. fewest complements
The rule for redistribution proposed by John Rawls in his book A Theory of Justice is called the
a. "optimal ignorance" rule. b. libertarian justice rule. c. maximin criterion. d. egalitarian criterion.
Which of the following is not an example of input growth that is a potential source of economic growth
a. immigration b. growth of the capital stock c. development of new technologies that reduce energy use. d. greater investment in workers' skills e. All of these are examples of input growth
A change in the following, will not result in a change in demand?
(a) Change in the price of a complement. (b) Change in the price of a substitute. (c) Change in the price of the good itself. (d) Change in expected future prices.