"Second-hand" smoke, an often cited disadvantage of allowing smoking in restaurants, is referred to in economics as a(n)
A) capital good.
B) externality.
C) economic cost.
D) negative investment.
B
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The alternative minimum tax (AMT) was created to
A. make sure that everyone had an equal chance of facing a tax audit. B. make sure that upper income taxpayers could not use deductions to avoid paying income taxes. C. make sure poor people paid at least something in taxes. D. make sure that everyone paid the same proportion of their income in taxes.
The tool that economists use to analyze the mutual interdependence of oligopolies is
A) economies of scale. B) the four-firm concentration ratio. C) game theory. D) the HHI. E) the efficient scale.
College graduates now earn nearly twice as much as their high school-educated peers and that gap is increasing
a. True b. False Indicate whether the statement is true or false
The labor supply curve represents: a. the relationship between the wage rate and labor productivity
b. the tradeoff between labor and leisure. c. the relationship between the wage rate and the quantity supplied of labor. d. the tradeoff between labor and capital as alternative factors of production.