A U.S. tariff on textiles would ________ U.S. clothing prices and ________ jobs in the U.S. textile industry
A) reduce; decrease
B) reduce; increase
C) raise; decrease
D) raise; increase
D
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Spike pays $14,000 in taxes and earns $100,000. Ace earns $120,000. If the tax system is progressive, Ace will pay ________ in taxes.
A. more than $16,800. B. $16,800. C. $15,500. D. more than $15,500 but less than $16,800.
Politicians tend not to support the policy solutions to end structural stagnation, because they would:
A. politicians aren't interested in solving society's problems. B. politicians have to worry about getting reelected. C. politicians don't like economists. D. give more power to the Federal Reserve to fix the economy.
The short run is characterized by:
A. increasing, but not diminishing, returns. B. at least one fixed resource. C. zero fixed costs. D. plenty of time for firms to either enter or leave the industry.
Production inefficiency is most likely to occur when the principal has more information about work performance than the agent does
Indicate whether the statement is true or false