An excise tax on cigarettes is ________ and ________.
A. regressive; direct
B. regressive; indirect
C. progressive; direct
D. progressive; indirect
B. regressive; indirect
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Other things remaining the same, as U.S. imports increase, the quantity of
A) foreign currency supplied increases. B) U.S. dollars supplied decreases. C) foreign currency demanded increases. D) foreign currency demanded decreases. E) U.S. dollars demanded increases.
If the marginal profit from increasing output by one unit is negative, then to attain an optimum, the firm should
A. increase output until marginal profit equals zero. B. reduce output until marginal profit equals zero. C. increase output until marginal profit is maximized. D. reduce output until marginal profit is maximized.
Increasing marginal returns are generally the result of
a. diseconomies of scale b. increasing costs c. specialization and division of labor d. labor unions e. technology
What is a problem with command-and-control policies?
a. It provides too much flexibility for firms to determine the best way to reduce their pollution. b. There are strong incentives to lower costs of reducing pollution. c. It is not the most efficient method for reducing pollution. d. There is strong agreement as to what are the correct policies.