Which of the following workers is least likely to lose his/her job during a recession?
A. A roofer
B. A carpenter
C. A police officer
D. An automobile assembly worker
Answer: C
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How does the federal government provide public goods and reduce the number of free riders?
a. Requiring tax payments b. Acquiring private firms c. Investing in education d. Protecting patents
Which of the following statements is correct?
a. The average tax rate gauges the sacrifice made by a taxpayer, whereas the marginal tax rate gauges the distortion of taxes on consumer decisions. b. The marginal tax rate gauges the sacrifice made by a taxpayer, whereas the average tax rate gauges the distortion of taxes on consumer decisions. c. The average tax rate measures how much the tax system discourages people from working. d. The marginal tax rate measures total taxes paid divided by total income.
An association of producers in an industry that agree to set common prices and output quotas to prevent competition is
A) an oligopolist. B) a monopolistic competitor. C) a constrained monopoly. D) a cartel.
Net exports is the amount of products and services that foreigners buy from our economy (exports) _________ what we bought from their economy (imports).
Fill in the blank(s) with the appropriate word.