Demand is elastic if the price elasticity of demand is greater than 1

The Lorenz curve represents the distribution of non-cash benefits

a. True b. False Indicate whether the statement is true or false

How do high marginal tax rates affect the economic prosperity of a nation?

a. They reduce the incentive of individuals to earn reported income. b. They encourage the nation's most productive citizens to emigrate to countries where taxes are lower. c. They discourage foreigners from investing in the country. d. All of the above are correct.