Which of the following statements is true?
A) If households expect higher taxes in the future, they will decrease their current savings rate.
B) The savings rate of households is dependent only on current consumption expenditure.
C) The savings rate of households is dependent only on consumption expenditure planned for the future.
D) If households expect higher taxes in the future, they will increase their current savings rate.
D
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Which of the following must be true if average variable costs are decreasing?
a. Average fixed cost exceeds average total cost. b. Marginal cost exceeds average variable cost. c. Marginal cost is less than average variable cost. d. Marginal cost is less than average total cost.
Taxation can promote good social policy while minimizing economic inefficiency.
Answer the following statement true (T) or false (F)
Someone unemployed for a long period of time due to technological change would be described as structurally unemployed.
Answer the following statement true (T) or false (F)
Which of the following organizations is exempt from prosecution under the Sherman Antitrust Act (1890)?
A. television stations B. labor unions C. book publishers D. retailers