In the above figure, the range of unit elasticity occurs
A) on the vertical axis.
B) on the horizontal axis.
C) between point c and point d.
D) below point e.
C
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When there is a cut in payroll taxes, there is a(n) ________ in the tax wedge that lowers the cost of labor. This tax cut will ________ the quantity of labor demanded and ________ the quantity of labor employed
A) increase; increase; increase B) decrease; increase; decrease C) decrease; increase; increase D) decrease; decrease; increase E) increase; decrease; decrease
Using the data in the above table, if the private sector runs a surplus of $250 billion, imports will equal $1,000 billion if
A) government expenditure equals -$750 billion. B) investment equals -$1000 billion. C) government expenditure equals -$1000 billion. D) the government sector runs a deficit of $750 billion.
The compensated demand curve only responds to the income effect from a price change
Indicate whether the statement is true or false
Investment in human capital implies:
a. investment on machines, technological development, and equipments. b. expenses on education. c. expenses on paying interest for hiring real capital. d. expenses on the purchase of land. e. profit of the entrepreneurs.