Which of the following is most important for the achievement of higher income levels and living standards?
What will be an ideal response?
production of additional goods and services that people value highly relative to the cost of their production
Economics
You might also like to view...
Assume the government reduces your welfare check by $1 for every $2 that you earn on the job while on welfare. How will this tax affect your labor supply decisions? What is the implicit tax rate of such a policy?
What will be an ideal response?
Economics
Some economists suggest the optimal way for a nation to protect its access to a strategic mineral is with
A) an infant industry tariff. B) a high rate of effective protection to keep local mines in business. C) a quota on imports of the mineral. D) a low nominal rate of protection. E) a stockpile.
Economics