The school of economic thought which argues that through tax reductions, and deregulation, government creates the proper incentives for the private sector to increase aggregate supply is known as the:
A. rational expectations school.
B. neo-Keynesian school.
C. supply-side school.
D. classical school.
Answer: C
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In the short run, a tax on economic profits can be shifted.
A. True B. False C. Uncertain
A labor market is divided into two segments. All workers have the same qualifications and find jobs in either segment equally attractive. Initially, both segments are in competitive equilibrium. If the development of employer prejudice then reduces the employment of minorities in one segment, there will be a
a. permanent drop in labor supply to the discriminating segment b. permanent increase in labor supply to the nondiscriminating segment c. temporary drop in labor supply to the discriminating segment d. permanent drop in labor demand to the discriminating segment e. temporary drop in labor demand to the nondiscriminating segment
What are the implications of the law of conservation of matter and energy for recycling and waste disposal?
GDP equals the value added by producers of:
A. intermediate goods and services, as well as final goods and services. B. intermediate goods and services only. C. final goods and services only. D. intermediate and final goods only.