Refer to the below graph for the labor market. The government decides to impose a wage tax as shown on the graph. The result is that:
A. More workers enter the labor market due to the higher wage rate being paid
B. The employers and laborers will split the tax evenly, each paying $.25 to the government
C. The wage received by laborers will rise to $5.40 and the labor cost to employers will fall to $4.90
D. The wage received by laborers will fall to $4.90 and the labor cost to employers will rise to $5.40
D. The wage received by laborers will fall to $4.90 and the labor cost to employers will rise to $5.40
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Refer to Figure 9.9. Now suppose an import quota of 3000 trucks is imposed. Government revenue from the quota will be
A) $0. B) $2,500. C) $7,500,000. D) $12,500,000. E) $13,125,000.
Father-only single parent families have a poverty rate that is about equal to the national average poverty rate
Indicate whether the statement is true or false