Suppose that McDonald's successfully implements self-serve kiosks in their restaurants, which allows the company to reduce the number of employees at each location. All else equal, this technological improvement would
A) shift the supply curve for its products to the right.
B) shift the supply curve for its products to the left.
C) shift the demand curve for its products to the right.
D) shift the demand curve for its products to the left.
Answer: A
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Total taxes minus transfer payments minus government interest payments is called:
A. a budget surplus. B. a budget deficit. C. national saving. D. net taxes.
Fears that the Munn v Illinois (1877) doctrine would result in excessive government control over businesses were not realized, for it actually had the effect of retarding government regulation
Indicate whether the statement is true or false
Suppose that a tax is placed on books. If the buyers pay the majority of the tax, then we know that the
a. demand is more inelastic than the supply. b. supply is more inelastic than the demand. c. government has required that buyers remit the tax payments. d. government has required that sellers remit the tax payments.
[(P - ATC)q] represents
A. economic profit. B. total cost. C. average fixed cost. D. total revenue.