One topic of study for a microeconomist would be the
A) causes of inflation.
B) causes of a nation's unemployment level.
C) effects of a gasoline price increase on consumer behavior.
D) effects of an increase in government spending on overall economic activity.
Answer: C
Economics
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Refer to the scenario above. If the income tax rate for the fourth household is higher than the income tax rate for the second household, it can be inferred that the government follows a ________ income tax system
A) progressive B) regressive C) proportional D) value-added
Economics
When long-run average total cost increases as output increases, a firm experiences
a. diseconomies of scale b. economies of scale c. constant returns to scale d. decreasing marginal cost e. greater total cost in the long run than in the short run
Economics