Publicly provided education is generally considered
A. a public good that generates positive externalities.
B. not to be a public good that generates negative externalities.
C. not to be a public good that generates positive externalities.
D. a public good that generates negative externalities.
C. not to be a public good that generates positive externalities.
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A Lorenz curve can be used to illustrate
A) the supply of labor. B) the substitution effect. C) the income effect. D) the distribution of income.
The federal personal income tax was designed to be a:
a. progressive tax. b. regressive tax. c. proportional tax. d. poll tax. e. payroll tax.
Anything can be money if it acts as a:
a. medium of exchange. b. All of the answers must be correct. c. store of value. d. unit of account.
In which instances will total revenues decline?
A. Price rises and Ed equals 2.47. B. Price rises and Ed equals 0.41. C. Price rises and demand is of unit elasticity. D. Price falls and demand is elastic.