The taxing agency in your state would like to impose a sales tax in a way that minimizes deadweight loss. To achieve this goal it should tax:
A. all goods equally.
B. goods but not services.
C. goods whose supply and demand curves are relatively inelastic.
D. goods that are relatively inexpensive.
Answer: A
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Susan Clark would like to work forty hours per week, but can only find twenty hours per week of work. In the official employment statistics, Susan is classified as:
A. out of the labor force. B. unemployed. C. underemployed. D. employed.
In 1952, there were _____ school districts in the United States
a. fewer than 15,000 b. around 30,000 c. around 45,000 d. more than 60,000
Which of the following are qualifications of the Coase Theorem?
a. technical transaction costs must remain low and be unaffected if liability assignment is reversed b. both parties must operate in a purely competitive market c. one party quickly makes an offer the other is just willing to accept only when the information regarding payoffs is complete, certain and known to both parties d. all of the above are correct e. only a and c
Scarcity is a situation in which resources are unlimited in quantity and can be used in different ways.
Answer the following statement true (T) or false (F)