Henry George claimed that land-rent taxes would not impair economic efficiency because:
A. They do not result in a change in the amount of land available
B. Landowners are, as a group, financially secure and able to pay the taxes
C. The supply of land is infinitely elastic
D. Rents represent a small part of income paid to American resource suppliers, so taxes on wages and salaries are more disruptive
A. They do not result in a change in the amount of land available
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The _____________ indicates the least costly way of producing each output level when all inputs can be varied.
Fill in the blank(s) with the appropriate word(s).
Refer to the table shown. If the output of bicycles is 4 per week, the marginal cost of producing another bicycle per week is:Output(bicycles per week)Total cost (dollars)110022003310444055806730790081,200
A. $130. B. $140. C. $120. D. $110.
true/false- the smaller the MPC, the larger the multiplier
a. true b. false
If the price of computers decreases, then the:
A. sales of a substitute, such as a telephone, increase. B. sales of a substitute, such as a telephone, decrease. C. inventory of computer software increases. D. inventory of computers increases.