Considering all taxes collected at all levels, taxation in the United States is _____ when looked at in terms of lifetime income
a. proportional
b. slightly progressive
c. slightly regressive
d. n-shaped
b
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A profit-maximizing firm will pay a worker:
A) the value of the worker's marginal product. B) the revenue that it earns by selling one unit of the product. C) less than the value of the worker's marginal product. D) more than the value of the average revenue of the firm.
Barry Bonds and Jennifer Lopez have which of the following in common?
A) Neither of them faces the problem of scarcity. B) Each of them acts solely in the public interest. C) Each of them chooses to advance some projects over others. D) None of the above.
Suppose people decide to buy fewer GE stoves. If General Electric reduces the number of its employees to reduce its costs but no other stove company does so, which type of unemployment results?
A) cyclical B) marginal C) structural D) frictional E) discouraged
The demand for a particular brand of automobile is likely to be more inelastic than the demand for automobiles in general
a. True b. False