A lump-sum tax does not produce a deadweight loss
a. True
b. False
Indicate whether the statement is true or false
True
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In terms of informal power within the Federal Reserve, which of the following groups do experts regard as the most powerful?
A) The Federal Advisory Council B) The economic staff of the U.S. Department of Commerce C) The economic staff of the Board of Governors D) Federal Reserve Bank directors
Under monopsony, the marginal factor cost of a worker is equal to
A) the additional worker's wage rate only. B) the additional worker's wage rate plus the increase in the wages of all other existing workers. C) the increase in the wages of all other existing workers. D) the difference between the worker's wage rate and the lower wage rate received by workers who have already been hired.