Which of the following industries is most likely to represent the monopolistic competition market structure?

Jessica receives a raise at her current part-time job from $9 to $11 per hour. If her labor supply curve is backward sloping, she will work fewer hours after receiving the pay raise

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

According to the text, the most important income distribution decisions that the government makes involve:

A. redistributing income through transfer payments to the poor. B. maintaining a progressive income tax structure. C. encouraging innovation through direct subsidies. D. establishing and protecting property rights.