Schumpeter and Galbraith believed that concentrated industries had lower rates of technological advances than less concentrated industries.
Answer the following statement true (T) or false (F)
False
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Which of the following account for the largest portion of state and local government receipts?
A) Individual income taxes B) Corporate income taxes C) Miscellaneous taxes and fees D) Property taxes
Refer to the figure above. If this were a voluntary restraint agreement, the welfare costs to the importing country would be
A) $14,000. B) $18,000. C) $38,000. D) $60,000.
Refer to the above figure. A unit tax of $2 has been placed on the good. Which of the following statements is TRUE about the vertical distance between S1 and S2?
A. The distance is less than $2. B. The distance is $2. C. The distance is more than $2. D. The distance cannot be determined with the information given.
Answer the following statements true (T) or false (F)
1) Any person without a job is considered to be unemployed. 2) Higher unemployment rates are linked with higher crime rates and higher rates of physical and mental illness. 3) Inflation reduces the purchasing power of a person's income and savings. 4) From 1995 until the start of the recession in 2007, the U.S. economy grew at the same rate as the economy of Japan.