Which of the Following Statements Is Correct

question 101

Multiple Choice

Which of the following statements is correct?

• A) According to the evidence from major industrial countries,there is no significant relationship between tax rates and the average number of hours worked per week.
• B) In the early 1970s,the average French worker worked more hours per week than the average American worker;by the mid-1990s,the reverse was true.
• C) Between the early 1970s and the mid-1990s,labor taxes in France decreased while labor taxes in the United States increased..
• D) All of the above are correct.

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Definitions:

Utility Per Dollar

Represents the amount of satisfaction or pleasure received per unit of expenditure.

Good

A tangible or intangible product that can satisfy a need or desire, and is transferable from one person to another.

Budget Constraint

The limits imposed on household choices by income, wealth, and product prices.

Price of Gasoline

The cost per unit (typically per liter or gallon) of gasoline, which fluctuates based on factors like crude oil prices, taxes, and supply and demand dynamics.