Assume that an economy is in equilibrium when the arrival of immigrants causes an increase in the supply of labor
Once the economy has adjusted to its new equilibrium, and assuming that the supply of capital remains unchanged, which of the following has decreased? A) the share of capital income in national income
B) the share of labor income in national income
C) national income
D) the rental price of capital
E) none of the above
E
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The short-run break-even price is
A. the price at which a firm's total revenues equal its total costs. B. the point at which the firm's implicit costs are maximized. C. the point at which the firm's total costs are maximized. D. the price at which a firm's total revenues exceed total costs.
An income tax leads to double taxation on saving only if consumption is the measure to gauge a person's ability to pay.
Answer the following statement true (T) or false (F)