According to classical economists, ________ unemployment does not persist in the economy because wages will always adjust to ensure equilibrium in the labor market.
A. the natural rate of
B. excessive
C. frictional
D. structural
Answer: B
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If tax revenue equals $1.5 billion and government expenditure equals $1.6 billion, then...
What will be an ideal response?
In the short run, the quantity of available hotel rooms is not particularly responsive to changes in price because hotels take time to build and to destroy. This implies that the short-run supply of hotel rooms is
A. in equilibrium. B. inelastic. C. elastic. D. greater than demand.
State and local taxes as a group seem to be mildly progressive, but federal taxes as a group seem to be mildly regressive.
Answer the following statement true (T) or false (F)
Refer to the information given in Table 16.6 below to answer the question that follows.
Table 16.6
Refer to Table 16.6. Assume that the marginal cost of hiring a police officer is $100. If A and B are the only two people in the society, the optimal number of police officers is
A. 1. B. 2. C. 3. D. indeterminate from this information.