Which of the following is true of net taxes?
What will be an ideal response?
The level of net taxes varies inversely with the level of transfer payments.
Economics
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If the marginal product of labor is less than the nominal wage divided by the price of output, a firm that wishes to maximize profits will
A) hire more labor. B) lay off workers. C) maintain its current level of workers. D) raise the real wage.
Economics
Government prohibition of advertising cigarettes on television would most likely result in
A) a rightward shift in the demand curve for cigarettes. B) a leftward shift in the demand curve for cigarettes. C) a rightward shift in the demand curve for television advertising time. D) no change in the market for either cigarette or television advertising.
Economics