The Darby (1976) revisions of the 1930s unemployment data show that if you count public employment, then the 1930s were not especially severe by historical standards

The principle of opportunity cost

A) is applicable to all decision-making. B) only refers to monetary payments. C) is more relevant for firms than for individuals. D) is only relevant in economics.

For a good that is taxed, the area on the relevant supply-and-demand graph that represents government's tax revenue is a

a. triangle. b. rectangle. c. trapezoid. d. None of the above is correct; government's tax revenue is the area between the supply and demand curves, above the horizontal axis, and below the effective price to buyers.