What effect would a simplification of federal tax law have on the cost of hiring a tax accountant?
A) It would fall because tax accountants would have fewer valuable opportunities.
B) It would rise because tax accountants would have to raise their prices to maintain their incomes.
C) It would have no effect because only supply affects costs, not demand.
D) It would have very little effect because most of the costs of becoming an accountant are sunk costs.
A
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Evidence shows that many people who delay searching for a job for a year or longer after they are laid off
A) find that they have little to no chance to find new employment after being unemployed for so long. B) find it easier to find new employment than if they had searched for a new job soon after they were laid off. C) find that the extra unemployment benefits they receive during their extended period of unemployment more than make up for the difficulty in finding a job once they decide to re-enter the workforce. D) find it more difficult to find new employment than if they had searched for a new job soon after they were laid off.
Cross-price elasticity measures the responsiveness of the price of good A to a change in the price of good B
a. True b. False
In the United Sates, the average annual rate of growth of real wages was fastest in the period:
A. 1973-1995. B. 1960-1995. C. 1996-2010. D. 1960-1973.
All of the following are international (as opposed to domestic) policy goals for the United States except:
A. a balance of trade. B. an increase in exports relative to imports. C. a strong dollar. D. low inflation.