If a person were given the choice of a $500 credit or a $500 deduction,
A. he would take the deduction if he were poor but the credit if he were rich.
B. he would take the deduction if he were rich but the credit if he were poor.
C. he would take the deduction every time.
D. he would take the credit every time.
Answer: D
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National income accounting helps economists and policymakers ________.
A. determine which firms are likely to succeed or fail B. measure what is occurring in each specific labor market C. follow the long-run course of the economy to assess whether it has grown or stagnated D. It helps accomplish all of these
The largest loss a profit-maximizing perfectly competitive firm can incur in the short run equals its
A) average variable cost multiplied by output. B) total fixed cost. C) marginal cost multiplied by the number of units produced. D) average total cost multiplied by the number of units produced. E) total variable cost.
If the price of a pumpkin rises and consumers' total expenditure on pumpkins increases, then the demand for pumpkins is inelastic
Indicate whether the statement is true or false
Most states do
A. not collect any corporate income taxes. B. have corporate income taxes. C. not recognize entities known as corporations. D. none of these answer options are correct.