_____ is when the total amount of taxes collected as a result of a tax reform is unchanged
a. Revenue enhancing tax reform
b. Revenue neutral tax reform
c. Comprehensive constant tax reform
d. Comprehensive tax reform
b
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Barriers to entering an industry ________.
A. encourage allocative efficiency B. are characteristic of a pure monopoly C. encourage productive efficiency D. apply only to pure monopolies
In the principal-agent relationship, the principal is
A) the person who is placed in control over resources that are not his own and agrees to compensate the resource owner in the event of outcomes that do not satisfy the resource owner. B) the person who places his resources in professional hands in exchange for the professional's promise to act on the resource owner's behalf. C) the owner of a resource that has hired a third party to act in the best interest of that third party. D) the person who is placed in control over resources that are not his own, with a contractual obligation to use these resources in the interests of some other party.
A change in price changes the quantity demanded and is represented by a movement along the demand curve.
Answer the following statement true (T) or false (F)
When resources are earning zero economic profits for a firm, the resources could earn more in their next best alternative use.
Answer the following statement true (T) or false (F)