Refer to Figure 17-4. Which of the following is true at W2?
A) The supply curve is positively sloped.
B) The income effect and the substitution effect are equal.
C) The substitution effect is larger than the income effect.
D) The income effect is larger than the substitution effect.
D
Economics
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The unemployment rate is measured as
A) the number of people that want to work but cannot find jobs out of the entire population. B) the percentage of people in the labor force who are unemployed. C) an indicator to determine long-term economic growth. D) an indicator for potential inflation.
Economics
A lump-sum tax does not produce a deadweight loss
a. True b. False Indicate whether the statement is true or false
Economics