If the elasticity of supply of labor is low and the elasticity of demand for labor is high, then workers pay most of the Social Security tax levied on labor

Two types of barriers to entry are called ________ barriers to entry and ________ barriers to entry

A) legal; illegal B) natural; legal C) natural; illegal D) natural; rent seeking E) ownership; rent seeking

Point C on the production possibilities frontier in the above diagram illustrates

A) a point that achieves production efficiency. B) a combination of goods and services that cannot be produced efficiently C) all goods and services that are desired but cannot be produced due to scarce resources. D) a production point that has underutilization of resources