Loopholes have the effect of
a. encouraging particular patterns of behavior and favoring particular types of people.
b. eroding the progressivity of the income tax.
c. altering the pattern of economic incentives.
d. All of the above are correct.
d
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? Newspaper recycling has been highly successful—perhaps too successful, given that many households gather and return their newspapers to recycling centers. The amount of newspapers recycled has dramatically increased, along with the number of recycling plants. Yet newspapers prefer regular newsprint over recycled newsprint, so the demand for recycled newsprint has remained essentially unchanged. The result of this for the recycled newsprint market is
A. a decrease in the supply and a higher price for recycled newsprint. B. an increase in the supply and a lower price for recycled newsprint. C. an increase in the supply and a higher price for recycled newsprint. D. a decrease in the supply and an increase in the demand for recycled newsprint.
The firm's short run supply curve is equal to the
A) entire marginal cost curve. B) marginal cost curve above the AVC curve. C) marginal cost curve above the ATC curve. D) marginal cost curve above the AFC curve.
The table above gives the market share of sales of firms in the retail clothing market. What is the four-firm concentration ratio?
A) 70 percent B) 100 percent C) 85 percent D) 65 percent
A phenomenon called Moore's law says:
A. computing capacity has doubled every two years. B. physical capital will double every two years in countries with high rates of growth. C. 70 divided by the growth rate equals how long it will take a country to double its income level. D. 70 divided by the growth rate equals how long it will take a country to double its productive capacity.