In the short run,
a. the labor market is always in equilibrium
b. actual output can deviate from potential output
c. crowding out is always complete
d. total output is independent of spending
e. spending is independent of total income
B
Economics
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If Tanisha can audit more tax returns in one hour than Libby, then Tanisha has an absolute advantage in auditing tax returns
Indicate whether the statement is true or false
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A tariff is better than a quota because
a. it does not distort trade as much. b. quotas are inflexible. c. tariffs produce tax revenue. d. quotas hurt domestic producers; tariffs hurt foreign producers.
Economics