In the long run, a reduction in the corporate profits tax may lead to ________ prices for the products of corporations and ________ prices for the products of partnerships and proprietorships.
A. lower; lower
B. higher; lower
C. lower; higher
D. higher; higher
Answer: C
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At any given time, about 95% of the population in the United States lacks health insurance.
A. True B. False C. Uncertain
[Appendix material: calculus required] Suppose total benefits and total costs are given by B(Y) = 150Y ? 10Y2 and C(Y) = 5Y2. Then marginal costs are:
A. 2.5Y. B. 5Y. C. 10Y. D. 25Y.
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
The demand for shoes will likely be price ________ while the demand for Sketchers Go Walk walking shoes will likely be price ________.
A. elastic; elastic B. inelastic; inelastic C. inelastic; elastic D. elastic; inelastic