Suppose that the U.S. personal income tax was eliminated and replaced with a fixed tax that raised the exact same amount of revenue. The multiplier would be
a. larger.
b. unchanged.
c. smaller.
d. incalculable.
a
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Based on the model given, the cost-effective solution would arise if
Suppose that two firms, X and Y, face the following abatement costs: MACX = 1.2AX, MACY = 0.3AY TACX = 0.6AX2 TACY = 0.15AY2 Further assume that the combined abatement standard is 40 units for both firms. a. each firm abates 20 units of pollution b. firm X abates 8 units, and firm Y abates 32 units c. firm Y does all the abating because its MAC is lower d. firm X abates 24 units, and firm Y abates 16 units e. none of the above
What is the legal status of a cartel among firms in the United States?
What will be an ideal response?
Briefly and concisely define the following terms and explain their relevance to the study of economics
a. industrial and craft unions b. closed shop c. union shop d. bilateral monopoly e. collective-bargaining agreement
Economists will always reach the same conclusion in their positive analyses.
Answer the following statement true (T) or false (F)