In the production function Real GDP = T (L, K), the T stands for tax coefficient
Indicate whether the statement is true or false
False
Economics
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Suppose that when the price of pickles decreases, Teddy increases his purchase of ketchup. To Teddy
A) pickles and ketchup are complements. B) pickles and ketchup are normal goods. C) pickles and ketchup and substitutes. D) pickles are a normal good and ketchup is an inferior good.
Economics
Tariffs can be used to redistribute income from
A) abundant factors to scarce factors. B) consumers to domestic producers. C) from one country to another. D) All of the above.
Economics