When the government taxes labor earnings we can expect people to
a. work more so they can keep the same standard of living.
b. work less and enjoy more leisure.
c. quit their present job and find one that pays better.
d. stop working altogether and go on welfare.
b
Economics
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A family on a trip budgets $800 for meals and gasoline. If the price of a meal for the family is $50, how many meals can the family buy if they do not buy any gasoline?
a. 8 b. 16 c. 24 d. 32
Economics
Sam Voter prefers Ronald to Joe, Joe to Gary, and Gary to Ronald. Sam's preferences:
A. are consistent with our assumptions about consumer behavior. B. are not complete. C. are not transitive. D. indicate that he is a liberal.
Economics