The Internet Tax Freedom Act resulted in a loss of approximately ________ in state and local income tax collections in 2006.
Fill in the blank(s) with the appropriate word(s).
$20 billion
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The table above lists six points on the production possibilities frontier for grain and cars. What is the opportunity cost of producing the 5th ton of grain?
A) 16 cars per ton of grain B) 6 cars per ton of grain C) 3 cars per ton of grain D) 2 cars per ton of grain
Suppose Q = KaLb, if a + b > 1 the isoquants will be
a. upward sloping. b. progressively closer together at higher quantities. c. progressively further apart at higher quantities. d. equally spaced.
If New York City expects that an increase in bus fares will raise mass transit revenues, it must think that the demand for bus travel is:
a. elastic. b. unit elastic. c. inelastic. d. perfectly inelastic. e. 10.
Assume Px is the price of good X on the horizontal axis and Py is the price of good Y on the vertical axis. The slope of the budget line equals:
a. Py / PxY. b. PyQy / Px Qx. c. (1 ? Py / Px). d. Px / Py.