The marginal tax rate has less effect on economic incentives than does the average tax rate
a. True
b. False
Indicate whether the statement is true or false
False
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The local diner is usually jammed on Saturday mornings. Luke knows the owner and had him reserve a stool at the counter. Luke has
A) cooperated with the owner. B) competed with other customers. C) taken an efficient course of action, from his own perspective. D) engaged in all of the above.
When the world price of the traded good is lower than the domestic no-trade equilibrium price, free trade causes domestic production to fall and domestic consumption to rise
a. True b. False Indicate whether the statement is true or false
Which of the following occurs when an employer refuses to hire a qualified individual due to the job applicant’s race, gender, or religion?
a. Discrimination b. Cognitive bias c. Affirmative action d. Racial profiling
Many Democrats support raising the U.S. minimum wage. Critics of raising the minimum wage argue that minimum-wage laws are
a. too expensive for local governments to fund. b. too expensive for local governments to administer. c. imprecise in their ability to help the working poor. d. easy for businesses to pay.