In 1910, the largest U.S. industry as ranked by value added was
a. machinery.
b. cotton goods.
c. tobacco manufactures.
d. railroad cars.
a. machinery.
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If a single person has a standard deduction of $6,300, itemized deductions of $6,650, and a personal exemption of $4,000, then the first ________ of income is federal income tax free.
A. $10,300 B. $10,650 C. $16,950 D. $12,950
All of the following costs will vary depending on the geographic location of a firm's plant except which one?
A) zoning issues B) wages C) U.S. income taxes D) real estate values
The nation of Isolani forbids international trade. In Isolani, you can exchange 1 car for 5 motorcycles. In other countries, you can exchange 1 car for 4 motorcycles. These facts indicate that
a. other countries have an absolute advantage, relative to Isolani, in producing cars. b. Isolani has a comparative advantage, relative to other countries, in producing cars. c. if Isolani were to allow trade, it would import motorcycles. d. the world price of motorcycles exceeds the price of motorcycles in Isolani.
Sulfur Dioxide Discharged (Tons)Firm AFirm B10$8,000$9,000910,00012,000815,00018,000720,00027,000628,00037,000Table 16.3Table 16.3 shows the production cost for two utilities at different levels of sulfur dioxide emissions. Assume that the government issued 8 marketable pollution permits to each firm. Suppose that Firm A has already sold a permit to Firm B. If Firm A contemplates selling a second permit to Firm B, what is Firm A's willingness to accept?
A. $5,000 B. $6,000 C. $7,000 D. $8,000