We cannot be certain that a general sales tax will decrease labor supply because _____
a. of the effect of lower income on labor supply
b. of the effect of higher tax revenue on consumption
c. of the effect of the sales tax on labor supply
d. we do not know about labor demand
a
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Measured unemployment may be lower than actual unemployment because:
A. measured unemployment does not include the frictionally unemployed. B. some individuals may want a job but have become discouraged and stopped looking for one. C. some individuals claim to be unemployed when they are not looking very seriously for a job. D. measured unemployment does not include teenage unemployment.
What is the major difference between a corporation and other kinds of businesses?
a. A corporation is a separate entity apart from that of the owners. b. A corporation is not responsible for its debts if it fails. c. A corporation is much larger than other kinds of businesses. d. A corporation has officers who are responsible for the business.