If you were building a macroeconomic model that explores the effect of an increase in income tax rates on the size of the labor force, the exogenous variable(s) would be
A) income tax rates.
B) the size of the labor force.
C) both income tax rates and the size of the labor force.
D) neither income tax rates nor the size of the labor force.
A
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Refer to Scenario 12.1. By what approximate percentage will Jennifer's income increase from age 25 to age 60?
A) 287 percent B) 400 percent C) 452 percent D) 561 percent
Which of the following is the best explanation of why a lack of information is a problem when the government wants to impose price regulation on a monopolist?
a. the government does not have information about which firms are monopolies. b. firms that are monopolies do not have information about their level of profit or about potential competition. c. consumers do not have information about which firms are competitive and which firms are monopolies. d. regulators do not have information about the demand and marginal costs of the firms that they regulate.
If a greater portion of income is distributed to those in the highest income quintile, the
A. Gini coefficient is less than zero. B. Lorenz curve sags below the diagonal line of absolute equality. C. Lorenz curve is a straight line. D. Line of equality sags below the Lorenz curve.
Rent ceiling
What will be an ideal response?