Deregulation has dramatically decreased airline safety
a. True
b. False
Indicate whether the statement is true or false
False
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The total amount of income in a society is independent of how income is distributed
a. True b. False Indicate whether the statement is true or false
If government taxes a firm which pollutes this will
a. increase the demand for the good produced. b. decrease the supply of the good produced. c. increase the equilibrium quantity of the good produced in the market. d. decrease the equilibrium price of the good produced in the market. e. all of the above.
If the government were to impose a tax that assigned everyone the same tax liability, it would be
a. a lump-sum tax. b. an equitable tax. c. supported by the poor. d. a progressive tax.
If a firm faces perfectly competitive product and factor markets and the marginal product of labor and capital are 4 and 9, respectively, while the wage rate is $2 and the rental rate on capital is $4, the firm should
A. decrease all inputs proportionately. B. use relatively less capital. C. use relatively more capital. D. increase all inputs proportionately.