When a tariff is imposed on the import of a good in a country, the quantity of the good that can be sold by domestic producers to foreign countries is limited
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose the extra cost to a pet store of advertising one additional day each week in the local newspaper is $450
Then, the pet store should advertize that one additional day each week if doing so brings in additional revenue of $450 or more each week. Indicate whether the statement is true or false
As exemptions are raised and allowable deductions are increased, there is
A. Greater horizontal equity. B. Greater vertical inequity. C. A smaller gap between effective and nominal tax rates. D. A smaller gap between gross income and taxable income.
Even in the US, almost _____ percent of medical care is purchased through third party insurance.
a. 65 b. 75 c. 100 d. 50 e. 90
A shoe factory has an elasticity of supply of .5 as the price of shoes rises from $50 to $75. If the factory produced 100,000 shoes at a market price of $50, how many will be produced at the new price?
(A) 125,000 (B) 400,000 (C) 200,000 (D) 75,000