Patents and copyrights are granted for a period of 20 years from the date of creation
Indicate whether the statement is true or false
FALSE
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If a tax was instituted such that every dollar collected in taxes from high income households resulted in a distribution of $.80 to low income households
A) efficiency and equality of incomes would both decrease. B) equality of incomes would increase but efficiency would decrease. C) efficiency would increase but equality of incomes would decrease. D) efficiency and equality of incomes would both increase.
An income distribution may not give an accurate picture of the standard of living for the poor because it does not include in-kind transfers
a. True b. False Indicate whether the statement is true or false
The U.S. catfish industry successfully petitioned the U.S. government to require that catfish varieties imported from Vietnam be labeled as "tra," "basa," or "pangasius." This is an example of which of the following?
A) an embargo B) a tariff C) a nontariff barrier D) a direct price influence
In general, price controls have a:
A. smaller effect in the short run because demand and supply become less elastic over time. B. smaller effect in the long run since demand and supply become less elastic over time. C. larger effect in the short run since demand and supply become more elastic over time. D. larger effect in the long run because demand and supply become more elastic over time.