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Author Question: The figure above shows the U.S. production function. How would an increase in income taxes be shown ... (Read 52 times)

Sportsfan2111

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on: Jun 29, 2018
The figure above shows the U.S. production function. How would an increase in income taxes be shown in the figure?
 
  A) a movement from point C to point B
  B) a movement from point A to point B
  C) an upward shift or rotation of the production function
  D) a downward shift or rotation of the production function
  E) None of the above because the effects of an increase in taxes cannot be shown in the figure.

Question 2

Martha used to pay for her expenses with her own hard-earned money. She always tried to spend as little as she could. However, she started spending more when she received a scholarship . This behavior is an example of ________.
 
  A) moral hazard
  B) a pecuniary externality
  C) the free-rider problem
  D) the paradox of thrift


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Joc

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Sportsfan2111

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

frankwu0507

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Reply 3 on: Yesterday
Excellent

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