Free markets coordinate economic activity in such a way as to eliminate the possibility of inflation or unemployment.
Answer the following statement true (T) or false (F)
False
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Which of the following is an example of an indirect tax?
A. Value-added tax B. Income tax C. Inheritance tax D. Head tax
In February of 2015, there were 157 million people in the labor force, 8.6 million of whom were unemployed. The unemployment rate in February 2015 was:
A. 5.8%. B. 6.4%. C. 8.6%. D. 5.5%.
These are the cost and revenue curves associated with a firm.
Assuming the firm in the graph is producing Q1 and charging P3, it is likely showing the cost and revenue curves of a firm in:
A. the long run, and accounting profits are zero. B. the short run, and economic profits are positive. C. the short run, and accounting profits are negative. D. the long run, and economic profits are zero.
The richest fifth of U.S. households get nearly half of all U.S. income.
Answer the following statement true (T) or false (F)