An increase in the income tax ________ potential GDP by shifting the labor ________ curve ________
A) decreases; demand; leftward
B) increases; demand; rightward
C) decreases; supply; rightward
D) decreases; supply; leftward
E) increases; supply; rightward
D
Economics
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Suppose the production of VCRs can be represented by the following production function: q = L0.4 K0.4. Which of the following statements is (are) TRUE?
A) The production function has decreasing returns to scale. B) The marginal productivity of labor falls as labor increases in the short run. C) Capital and labor can be substituted for one another. D) All of the above.
Economics
A circuit breaker is concerned with
A. faulty tax wiring. B. residential property taxes. C. corporate tax systems. D. block grants.
Economics