Deadweight losses are associated with
a. taxes that distort the incentives that people face.
b. taxes that target expenditures on survivor's benefits for Social Security.
c. taxes that have no efficiency losses.
d. lump-sum taxes.
a
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Marginal utility theory predicts that an increase in income means that the consumption of
A) all goods will increase. B) normal goods will increase and consumption of inferior goods will decrease. C) inferior goods will increase and consumption of normal goods will decrease. D) None of the above answers is correct.
In situations where new technologies are considered complementary to workers, demand for these workers will ________, resulting in ________ in the equilibrium wage
A) decrease; a decrease B) increase; a decrease C) increase; an increase D) decrease; an increase
Explain the difference between general grants and categorical grants. Under what circumstance will they have the same impact? In that case, will one have an advantage over the other?
What will be an ideal response?
A _______ monopoly is an industry in which it makes economic sense to have only one provider.
A. competitive B. natural C. original D. specific