A government seeking to raise revenue would be most likely to tax a good
a. having a high income elasticity of demand
b. with a low cross elasticity of demand
c. having a high price elasticity of demand
d. with a low income elasticity of demand
e. having a low price elasticity of demand
E
Economics
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If a production function is represented as q = LaKb, the long-run average cost curve will be horizontal as long as
A) a + b = 0. B) a + b = 1. C) q > 0. D) L = K.
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In a union shop, prospective employees must be union members before they can be hired
Indicate whether the statement is true or false
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