Which of the following statements is true?
A) Both efficiency wages and minimum wages increase unemployment.
B) Efficiency wages increase unemployment while minimum wages help reduce unemployment.
C) Both efficiency wages and minimum wages help reduce unemployment.
D) Efficiency wages help reduce unemployment while minimum wages increase unemployment.
A
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Recently the governor of Vermont proposed that cigarette taxes in Vermont should be increased substantially, from 44 cents a pack to 66 cents a pack. He estimates that Vermont can raise $20 million in revenue from this tax hike
He also pointed out that the neighboring state of New Hampshire was considering an increase in cigarette taxes. a. How can it be that an increase in cigarette taxes will increase tax revenue, because, after all, a higher tax will increase cigarette prices and thereby decrease the quantity demanded? b. If New Hampshire chooses not to increase cigarette taxes, is it likely that Vermont can still raise $20 million in tax revenue? Why or why not? Explain
Which of the following describes an economy?
a. The social arrangement that determines what is produced, how it is produced, and for whom it is produced b. The process that describes the evolution of human society c. The arrangement that determines who governs the people and how they govern the people d. The system by which a state or community is controlled