The demand for labor is derived from the
a. demand for leisure.
b. supply of labor.
c. demand for final-output goods.
d. supply of final-output goods.
c
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According to Milton Friedman, a person's MPC will change as their actual income changes
Indicate whether the statement is true or false
Which of the following is not part of our portfolio of antitrust acts?
a. Sherman Act b. Clayton Act c. Federal Trade Commission Act d. Robinson-Patman Act e. Herfindahl-Hirschman Act
The benefit that government receives from a tax is measured by
a. the change in the equilibrium quantity of the good. b. the change in the equilibrium price of the good. c. tax revenue. d. total surplus.
The basic principles of economics are Select one:
a. Important only to professional economists. b. Always complex. c. Necessarily abstract. d. Reflective of common sense.