In the United States, the highest quintile of income earners contribute ________ of all federal tax dollars received, and the lowest quintile of income earners contribute ________ of all federal tax dollars received

Which of the following is true of an externality?

a. An externality enhances the efficiency of the market system. b. An externality is not an economic problem because it is external to the market. c. An externality is a cost borne by the people who are directly or indirectly involved in the production of a good or service. d. An externality accrues to someone who had nothing to do with the production or consumption of a good or service. e. An externality refers to some unexpected change in the equilibrium price or quantity of a product.

Which of the following statements is incorrect? a. Demand and supply curves for labor are constantly shifting

b. The typical unemployment compensation in the United States is one's full salary for up to 26 weeks. c. Unemployment compensation decreases the opportunity cost of being unemployed to a worker. d. Unemployment compensation encourages longer job searches, which may lead to a better match between jobs and employees.