To the Extent That High Incomes Can Be Attributed to Very

question 252

Multiple Choice

To the extent that high incomes can be attributed to very high demand for very scarce abilities, the labor supply effects of a substantial increase in the tax rate

• A)will be zero as long as the labor supply curve is vertical.
• B)will be significant because the demand curve is fixed.
• C)cannot be predicted because the substitution and income effects offset each other.
• D)will be zero as long as there is no economic rent in the income.

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Default Judgement

Default Judgement is a binding judgment in favor of either party based on some failure to take action by the other party, most often the failure to respond to a court summons.

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