Suppose you are choosing between milk and cookies. If the opportunity cost of cookies in terms of milk increases, then the budget curve will
A. shift outward.
B. rotate outward.
C. rotate inward.
D. shift inward.
Answer: C
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In a competitive labor market a firm will continue to employ workers for as long as an additional worker's marginal revenue product is below the wage rate
a. True b. False Indicate whether the statement is true or false
An increase in marginal tax rates will
What will be an ideal response?
Temporary Assistance to Needy Families is a government program with the goal of:
A. social insurance. B. redistribution. C. economic growth. D. None of these is true.
Comparing total taxes as a percentage of GDP in the United States to Western European countries, such as the France, Norway, and Sweden,
A. U.S. taxation is smaller. B. U.S. taxation is about the same. C. U.S. taxation is slightly larger. D. U.S. taxation is substantially larger.