Structuralists believe the main cause of inflation is
a. rigidities in the economy's supply capabilities
b. lack of sufficient aggregate demand
c. weak position of labor unions
d. government intervention in financial markets
e. all of the above
A
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As the size of a tax rises, the deadweight loss
a. rises, and tax revenue first rises, then falls. b. rises as does tax revenue. c. falls, and tax revenue first rises, then falls. d. falls as does tax revenue.
Almost all of the rent that tenants pay to landlords of apartments buildings is economic rent.
Answer the following statement true (T) or false (F)
Congress initially intended for the Medicaid program to provide basic safety net coverage for certain vulnerable populations, including all the following but one.
a. Disabled individuals less than 65 b. Working age adults without dependents c. Single, pregnant women with or without dependents d. Single men with dependents e. Children in low-income households
The supplier of a factor of production has a reservation price of $100. The purchaser of the factor of production has a reservation price of $200. If the factor of production is unique, then:
A. a transaction will occur, and the price paid for the factor of production will be $200. B. a transaction will occur, and the price paid for the factor of production will be $100. C. a transaction will occur, and the price paid for the factor of production will be $150. D. there will be no transaction since $200 is greater than $100.