The Figure Given Below Shows the Demand Curve in the U.S

question 33

Multiple Choice

The figure given below shows the demand curve in the U.S. and the cost curves in U.S. and India.Figure: 16.4
In the figure:
MC: Marginal cost curve
ATC: Average total cost curve
D: Demand curve in the U.S.MR: Marginal revenue curve in the U.S.
-An increase in the income tax rates:

• A)makes the labor supply curve more inelastic.
• B)increases the opportunity cost of leisure.
• C)lowers the opportunity cost of leisure.
• D)shifts the labor supply curve to the right.
• E)shifts the labor demand curve to the right.

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Definitions:

Communications Decency Act

Legislation enacted in 1996 aimed at regulating and minimizing obscene and indecent material on the internet, but faced significant legal challenges.

1996 Telecommunications Act

A significant overhaul of telecommunications law in the United States that aimed to deregulate the broadcasting and telecommunications markets.

FCC's Licensing Power

The authority of the Federal Communications Commission to grant, deny, and regulate broadcast licenses.

FCC

The Federal Communications Commission (FCC) is a government agency in the United States responsible for regulating interstate and international communications by radio, television, wire, satellite, and cable.