An example of technological development is to increase output through
a. raising pay.
b. working longer hours.
c. hiring more workers.
d. using better machines.
d. using better machines.
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Strategic behavior occurs when a firm takes a particular strategy without considering the policies of its rivals
a. True b. False Indicate whether the statement is true or false
Ricardian equivalence implies a tax multiplier of zero
a. True b. False
How has the structure of the personal income tax changed and the share of taxes paid by various income groups changed in recent decades?
Suppose the market for autoworkers is initially in equilibrium, but then the automakers purchase capital goods that are a substitute for workers. What happens in the market for autoworkers? Explain. Now, suppose the automakers improve working conditions
at the plants. What are the effects? Explain. What will be an ideal response?