A tax on gasoline is likely to
a. cause a greater deadweight loss in the long run when compared to the short run.
b. cause a greater deadweight loss in the short run when compared to the long run.
c. generate a deadweight loss that is unaffected by the time period over which it is measured.
d. none of the above is correct.
a. cause a greater deadweight loss in the long run when compared to the short run.
Economics
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Using the data in the above table, if the price of an hour of labor is $20 and the price of a unit of capital is $10, then the most economically efficient technique for producing 100 sweaters is
A) A. B) B. C) C. D) D.
Economics
If an industrial union is able to negotiate a wage above the competitive market-clearing wage, employment in the industry will increase
a. True b. False
Economics