When the economy has an income tax that is variable, the multiplier is
a. unchanged.
b. larger.
c. smaller.
d. unpredictable.
c
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Productive efficiency is achieved when firms produce goods and services
A) at the highest profit margin. B) at the lowest cost. C) most desired by society. D) of the highest quality.
How does an economy's central bank manage the supply of money through official reserve transactions?
What will be an ideal response?
A natural monopoly that is not regulated will choose to produce at the
A) minimum point of the long-run average cost curve. B) point at which marginal cost is above average total cost. C) point at which the demand curve intersects the long-run average cost curve. D) point at which marginal revenue equals marginal cost.
Government intervention always reduces monopoly deadweight loss
a. True b. False Indicate whether the statement is true or false