Author Question: Which of the following is true about increasing cost industries? a. They use a large portion of ... (Read 74 times)

V@ndy87 · **on:** Jun 30, 2018

Which of the following is true about increasing cost industries?
a. They use a large portion of available specialized input resources in production.
b. In order for industry output to expand, the prices of the specialized inputs will increase.
c. Expansion of industry output leads to a higher equilibrium price in the long run.
d. All of the above are generally true of increasing cost industries.

Question 2

In a progressive tax structure:
a. both the tax rate and absolute tax amount increase with an increase in income.
b. the tax rate remains constant, but the absolute tax amount increases with an increase in income.
c. both the tax rate and absolute tax amount decline with an increase in income.
d. the tax rate falls,but the absolute tax amount increases with an increase in income.
e. the tax rate increases, but the absolute tax amount decreases with an increase in income.