In order for the government to collect taxes, the government must first establish a(n)
A) ad valorem taxation.
B) tax base.
C) philosophy of taxation.
D) justice system.
Answer: B
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Firms decide how much to spend on product development and marketing by
A) spending the same amount as they did in previous years. B) spending the historical average of 1/4 of total production cost. C) determining what it will take to eliminate excess capacity. D) balancing the cost and the benefit of product development and marketing. E) ensuring that the marginal cost of product development and marketing is less than or equal to the marginal cost of producing the good or service.
Which of the following would increase the demand for labor? (i) a decrease in the output price (ii) an increase in the output price (iii) a labor-saving technological advance (iv) a labor-augmenting technological advance
a. (i) only b. (i) and (iii) only c. (ii) only d. (ii) and (iv) only
The optimal efficiency wage requires
A. firms to pay any wage above the competitive wage. B. firms to pay the competitive wage. C. firms to pay fringe benefits. D. the total product curve to be downward sloping. E. firms to pay the unique wage above the competitive wage such that the elasticity of output with respect to wages equals one.
Refer to the information provided in Table 23.1 below to answer the question(s) that follow. Table 23.1
Refer to Table 23.1. At an aggregate income level of $100, aggregate saving would be
A. -$70. B. -$30. C. $50. D. $70.