The statement \"The income tax is unfair to those who work hard to earn their in

Question

The statement "The income tax is unfair to those who work hard to earn their incomes" is an example of positive economic analysis.

  True or False                                                             

Indicate whether true or false

____ The demand schedule is a table or list of the prices and corresponding quantities demanded of a particular good or service.

____   More television sets are being sold today than one year ago, and the selling price has increased. This could have been caused by an increase in demand.

____ All points on the production possibilities curve represent efficient levels of production.

____   If input prices increase, the supply curve for cheese will shift to the right.

____   If the supply curve decreases while the demand curve remains unchanged, the equilibrium price would decrease.

____ As output increases, marginal cost increases, reaches a maximum, and then falls.

____ From an economic perspective, one of the problems with the illegal drug market is that drug suppliers do not pay income taxes or social security taxes.

Explanation / Answer

True , it is positive economic analysis as it States facts .

True , demand schedule represent relationship between prices and quantities demanded

True , the increased demand pushed the supply for Tv

True , all point are efficient any point away represents under or over productions

False , supply curve shifts left due to rise in production cost

false , equiliirum price rise due to lack of supply

False , MC falls and then rises

True , they are a part of the parallel economy which do not get registered

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