Taxes create deadweight losses because they
a. reduce profits of firms.
b. distort incentives.
c. cause prices to rise.
d. create revenue for the government.
B
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C + I + G + X equals
A. NDP. B. DPI. C. PI. D. GDP.
Structural unemployment can be caused by all of the following EXCEPT:
A) minimum wages. B) labor unions. C) efficiency wages. D) fluctuations in the business cycle.
When domestic prices rise,
A. people buy fewer imported goods. B. people buy more imported goods. C. interest sensitive consumption rises. D. exports rise.
Assuming no government intervention, describe the market behavior that should result if the price of a product is below its equilibrium price; then describe the behavior that should occur if the price is above its equilibrium price
Please provide the best answer for the statement.