Tax revenue collected from a payroll tax equals the tax rate times the earnings of individuals subject to the payroll tax. let's say the labor-supply curve is close to vertical. explain why raising payroll tax rates will increase the total revenue the government receives from the tax.

Producers can create their maximum combination of goods, s long as what?

The strength of the economy depends on the balance pf production and consumption of goods and consumption of goods and services

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.