A proportionate increase in the price level and the money wage in the classical model
a. increase labor supply.
b. decrease labor supply.
c. leave labor supply unchanged.
d. affect labor supply but the direction of the effect is uncertain.
C
Economics
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When the average tax rate rises as income rises, this is known as progressive taxation
a. True b. False Indicate whether the statement is true or false
Economics
Suppose an industry is composed of 10 firms. Each firm's share of total sales in the industry is 10 percent. If two of the firms merge, then the four-firm concentration ratio in the industry is
A) 40 percent. B) 45 percent. C) 50 percent. D) unable to determine.
Economics