The necessity to maintain incentives to work and incentives to produce output would be a point made by an individual making the case for:
A. Income equality
B. Income inequality
C. Maximization of total utility
D. Maximization of marginal utility
B. Income inequality
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Along a straight-line demand curve, as the price falls the
A) demand becomes more elastic. B) demand becomes less elastic. C) elasticity of demand is constant. D) demand is always unitary elastic.
What does empirical evidence suggest about the elasticity of labor supply? What does this suggest about the burden of the payroll tax in the United States?
What will be an ideal response?
In a market for emission permits, firms that emit over their allowed limits
A) are forced to shut down. B) are taxed by the government for the amount of emissions. C) receive a subsidy for the amount of emissions. D) pay a price of these emissions.
If events A and B are independent, then Pr[A and B] will be:
a. Pr[A]Pr[B]. b. Pr[A]-Pr[B]. c. Pr[A]?Pr[B]. d. Pr[A]?Pr[B].