A worker can always build a chair in four hours. If a chair sells for $40 in a perfectly competitive market, then the equilibrium wage per hour in a perfectly competitive labor market is
a. $4.
b. $10.
c. $40.
d. $160.
b
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A. The taxes paid divided by taxable income. B. Those from whom a tax is collected. C. The relative tax burdens of state and local governments. D. The distribution of the real burden of a tax.
Natural resources:
A. are physical structures that sit on the earth, improving it and making it more productive. B. are production inputs that come from the earth. C. are natural talents people are born with that make them productive. D. None of these is true.
A measure of the value of a specified collection of goods and services in a given year as compared to the value of a highly similar collection of goods and services in a reference year is called a......
What will be an ideal response?
The goal of the two large trade treaties that the U.S. was negotiating in 2016 with Pacific Rim countries and with Mexico was to
A. protect domestic workers. B. reduce domestic employment. C. encourage more global trade. D. slow the growth of global trade.