The demand for beer is more elastic than the demand for milk, so a tax on beer would have a smaller deadweight loss than an equivalent tax on milk, all else equal
a. True
b. False
Indicate whether the statement is true or false
False
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If the labor force grows faster than the number employed, the
A. unemployment rate will fall. B. unemployment rate will rise. C. labor force rate will rise. D. employment rate will rise.
Which of the following is an equilibrium condition for the goods market?
A) M = kPQ B) Desired saving and desired investment C) Money demand = money supply D) IS = LM
The amount of work time lost because of strikes has been declining fairly steadily since
A. 1950. B. 1960. C. 1970. D. 1990.
Which of the following is a normative economic statement?
A) The price of milk is too high. B) The current high price of milk is the result of reduced worldwide supply. C) When the price of milk rises, the quantity of milk purchased falls. D) When the price of milk rises, the cost of milk-based products rises.