The accountant for Muzhi's Sushi claims that Muzhi has accomplished "technological efficiency." This means that Muzhi's Sushi
A) produces a given output using the least inputs.
B) produces a given output at the lowest cost.
C) has an economic profit greater than a normal profit.
D) has a normal profit greater than an economic profit.
A
Economics
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An increase in taxes on labor income shifts the labor supply curve ________, and the ________
A) leftward; after-tax wage rate falls B) rightward; before-tax wage rate rises C) leftward; before-tax wage rate does not change D) leftward; after-tax wage rate rises E) leftward; after-tax wage rate does not change
Economics
If you were told the MPC was = 0.75 and the government engaged in a tax decrease of $400B, then the initial change in GDP would be:
A. $300B. B. $400B. C. $1600B. D. $1200B
Economics