A Study by Edward Prescott Found That the ________ Marginal

question 141

Multiple Choice

A study by Edward Prescott found that the ________ marginal tax rates in the United States relative to Europe resulted in a ________ quantity of labor supplied in the United States.

• A)higher; larger
• B)lower; larger
• C)higher; smaller
• D)lower; smaller

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Definitions:

Equilibrium

A state of balance or stability, often referring to the body's ability to maintain its center of gravity, or in psychology, a state of mental or emotional balance.

Assimilation

The process by which a person or a group's language and/or culture come to resemble those of another group.

Assimilation

The method through which people or groups from various ethnic backgrounds become assimilated into a society's prevailing culture.

Piaget's Concept

A theory developed by Jean Piaget that describes the cognitive development of children in four stages from birth to adolescence.