An increase in real dividend income minus taxes represents
A) a pure substitution effect.
B) a pure income effect.
C) a combination of income and substitution effects.
D) neither a pure income effect nor a pure substitution effect.
B
Economics
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The returns to scale of the production function Q = 50 L0.4 K0.2 are
A) 50. B) .6. C) .8. D) 500.6.
Economics
If unemployment and inflation always move in the same direction, then we can infer that business fluctuations are
a. from the demand side. b. from the supply side. c. from both the demand and supply side. d. purely random events.
Economics