Which is an illustration of a microeconomic question?
a. What is the current national rate of unemployment?
b. Is the production of goods and services in the economy greater this year than last year?
c. Is the economy experiencing a decline in the rate of inflation?
d. Will a new type of television set increase the number of buyers?
d. Will a new type of television set increase the number of buyers?
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Consider the following methods of taxing a corporation's income:
a. A flat tax, as opposed to a progressive tax, is levied on corporate profits. b. A system whereby a corporation calculates its annual profit and notifies each shareholder of her portion of the profits. The shareholder would then be required to include this amount as taxable income for her personal income tax. The corporation does not pay a tax. c. A system where the federal government continues to tax corporate income through the corporate income tax but allows individual taxpayers to receive, tax free, corporate dividends and capital gains. Which of the methods above would avoid double taxation? A) a, b, and c B) a and b only C) a and c only D) b and c only
Measurements of TFP indicate that the East Asian success story is based on
A) a significantly different economic model from the one followed in the West. B) unusually large amounts of innovation. C) rapid increases in the education of the work force. D) high amounts of savings and investment. E) large current account surpluses.
The transformation in labor has dramatically impacted the distribution of income in the U.S
Indicate whether the statement is true or false
The demand for a resource rises as
A. its productivity rises and the relative prices of substitutable resources rise. B. its productivity rises and prices of substitutable resources fall. C. its productivity falls and the relative prices of substitutable resources fall. D. its productivity falls and prices of substitutable resources fall.