The main effect of a decrease in labor demand that arises from a decrease in capital stock is
A) lower real wages. B) shifts in unemployment.
C) a need for fewer immigrant workers. D) companies make fewer profits.
A
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One advantage of ad valorem taxes over unit taxes is that _____
a. the tax is more difficult to evade b. the tax is easier to collect c. the tax increases with inflation d. the tax automatically adjusts for inflation
According to the graph shown, consumer surplus is:
A. the area under the supply curve and above the price.
B. the area above the supply curve and below the price.
C. the area under the demand curve and above the market price.
D. the area above the demand curve and below the price.
A look at the historical data indicates that velocity for M1
a. has been more variable than the velocity for M2, but both have been fairly constant for the past 65 years. b. and M2 have both trended downward, but velocity for M2 has been more erratic than velocity for M11. c. has been fairly constant for the past 65 years, but velocity for M2 has trended downward. d. has trended upward in the past 65 years, but velocity for M2 has been more constant.
Communist countries worked on the premise that government officials were in the best position to allocate the economy's scarce resources
a. True b. False Indicate whether the statement is true or false