A. there is no income effect when tax rates are changed
B. the income effect of a wage change is greater than the substitution effect of a wage change.
C. there is no substitution effect when tax rates are changed D. the substitution effect of a wage change is greater than the income effect of a wage change
A. An increase in the minimum wage that would cause consumer spending to increase B. investment tax credits for businesses to encourage investment
C. Restrictions placed on the amount that can be imported.
D. An increase in government spending that would lead to increased aggregate demand
A. Technological change has made it possible for many industries to become more competitive
B. Because few real natural monopolies exist, there is rarely a reason for government regulation.
C. Many instances of government regulation have succeeded in reducing competition in industries where competition may be beneficial D. All of the above