If you believe that the economy can achieve full employment without inflation through tax reductions, spending cuts, and deregulation, you are a member in good standing in the
a. classical school
b. Keynesian school
c. neo-Keynesian school
d. rational expectations school
e. supply-side school
E
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When a tax is imposed on a good, at the after-tax equilibrium the marginal benefit of the last unit produced ________ the marginal cost
A) equals B) is greater than C) is less than D) can be calculated but is not comparable to E) The premise of the question is incorrect because after a tax is imposed, it becomes impossible to determine the marginal benefit and the marginal cost.
If Larry has budget constraint B in the graph shown, what is his opportunity cost of one gallon of milk?
This graph shows three different budget constraints: A, B, and C.
A. It is 6 cases of soda.
B. It is exactly one case of soda.
C. It is less than one case of soda.
D. It is more than one case of soda.
Based on average statistics, at which age is Brad most likely to be earning some of the highest wages of his life?
a. 22 b. 32 c. 52 d. 72
Which conditions must hold if a firm is to successfully engage in price discrimination?
A. It must be extremely difficult, if not impossible, for one consumer to resell a product to another. B. Firms must have a sufficiently low amount of market power. C. Consumers must have very similar preferences for the product. D. All of these are correct