Workers, rather than firms, bear most of the burden of the payroll tax
a. True
b. False
Indicate whether the statement is true or false
True
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Stefano has just completed an original oil painting. After considering the costs for brushes, paint, canvas, and the value of Stefano's labor time, the marginal cost of the painting is $1,000. Lucky Stefano. One art lover paid him $1,500
How much producer surplus did Stefano obtain? A) The amount of producer surplus cannot be determined from the information given. B) $1,500 C) $1,000 D) $500
Refer to Figure 5-4. What does S2 represent?
A) the market supply curve that reflects external cost B) the market supply curve that reflects social benefit C) the market supply curve that reflect private cost D) the market supply curve that reflects social cost
The political stability of countries has an impact on the foreign exchange market
Indicate whether the statement is true or false
Which of the following goods is more likely to be excludable?
A) a chocolate bar B) a concert at Times Square C) national defense D) ocean breeze