In the above figure, the price received by the seller before the tax is ________ per compact disc, and the price received and kept by the seller after the tax is ________ per compact disc
A) $20; $20
B) $20; $10
C) $30; $20
D) $30; $10
B
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To maintain a fixed exchange rate, when the exchange rate moves above the target level, the central bank must
a. sell foreign currency from reserves. b. buy foreign currency. c. raise taxes. d. raise government spending. e. pass a law that increases the exchange rate.
When the interest rate is R, the formula for finding the future value of $M two years from now is
A) M (1 + R)2. B) M (1 + R2). C) M / (1 + R)2. D) M / (1 + R2).
Which of the following are not methods of dealing with externalities?
a. relying on voluntary compliance b. creating new property forms c. taxing the output of industries that pollute d. creating legal environmental standards e. increasing public spending on cleanup/reduction
The short run is defined as the time frame:
A. in which there are fixed factors of production. B. less than one year. C. less than three years. D. in which there are no fixed factors of production.