The statutory incidence of a tax ______________ the economic incidence of the tax.
A. determines
B. often can predict
C. is the same as
D. has no effect on
D. has no effect on
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The assertion that if resources are allocated efficiently, they also are allocated fairly is made by
A) all utilitarians. B) John Rawls, who proposed making the poorest as well off as possible. C) Robert Nozick, who believes that equality of opportunity is fair. D) all economists who understand the big tradeoff.
The entry of China and other developing countries into the global economy ________ the wages of low-skilled workers and ________ the wages of high-skilled workers in the United States
A) lowers; lowers B) raises; raises C) raises; lowers D) lowers; raises
If the marginal propensity to consume (MPC) is 0.8, the spending multiplier will be
A) 0.2. B) 1.25. C) 4.0. D) 5.0.
At what quantity is Sarah Machinery indifferent between two technologies?
a. 5 b. 6 c. 7 d. 8