Which of the following is a way to tax leisure?
a. Tax complements to leisure.
b. Subsidize substitutes to leisure.
c. Increase income taxes.
d. Tax unearned income.
a
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Decision making on the margin involves
A) comparing the marginal cost and marginal benefits when making a decision. B) comparing the total cost and the total benefit when making a decision. C) eliminating the additional cost when making a decision. D) determining the total benefits of a decision. E) comparing the benefits from the social interest to the benefits from the person's self-interest.
What does it mean for a producer to internalize an externality?
A) The producer is limiting outsourced production. B) The producer is prohibited from producing products which generate externalities. C) The producer must find ways to address externality problems which extend beyond geographic borders. D) The producer is forced to factor into production costs the cost of the externalities created in their production of output.
Which of the following is NOT an economic resource?
A) money B) low-skilled labor C) coal D) an engineer
As economic growth rises, literacy rates tend to fall
a. True b. False Indicate whether the statement is true or false