A lump-sum tax causes the after-tax consumption schedule:
A. and the before-tax consumption schedule to coincide.
B. to be steeper than the before-tax consumption schedule.
C. to be flatter than the before-tax consumption schedule.
D. to be parallel to the before-tax consumption schedule.
D. to be parallel to the before-tax consumption schedule.
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Mike has just been laid off from his construction job because consumers are not purchasing new homes because of the recession. Mike would be considered to be part of
A) structural unemployment. B) cyclical unemployment. C) seasonal unemployment. D) frictional unemployment.
Total allowable catch (TAC):
A. explicitly limits the number of days in a season that particular fish may be caught. B. explicitly limits the number of boats allowed to fish in a particular area. C. explicitly limits the number or tonnage of fish that can be harvested from a particular fishery. D. issues tradable permits limiting the number of fish a particular fisher can catch.