When attempting to determine if a sales tax is regressive or not, it is important to consider _____
a. bequests
b. that a general sales tax is a consumption tax
c. that people pay income taxes
d. that individual's incomes change over their lifetime
d
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The usual aim of expansionary fiscal policy is to increase
A. aggregate demand. B. government spending. C. both aggregate demand and aggregate supply. D. aggregate supply.
Refer to Table 20-17. Looking at the table above, real average hourly earnings in 2015 were
A) $3.67. B) $5.63. C) $10.24. D) $11.37.
In peak-load pricing, once capacity is reached, the firm's short-run marginal cost curve becomes ________.
A) negative B) vertical C) horizontal D) upward sloping
A decrease in demand and an increase in supply will lead to
A) unambiguous increases in both price and quantity. B) unambiguous decreases in both price and quantity. C) an unambiguous decrease in price, but the effect on quantity is indeterminate. D) an unambiguous decrease in quantity, but the effect on price is indeterminate.