The gasoline tax
a. is similar to most other taxes in that it causes deadweight losses.
b. produces the unfortunate side-effect of making the roads more dangerous.
c. can be viewed as a corrective tax aimed at multiple negative externalities associated with driving.
d. can be viewed as a command-and-control policy aimed at discouraging people from driving.
c
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Which type of tariff is forbidden in the United States on Constitutional grounds?
A) import tariff B) export tariff C) specific tariff D) prohibitive tariff E) import quota
The United States exports approximately ________ percent of all goods and services produced in the country.
A. 16. B. 8. C. 3. D. 13.
When price is below average variable cost, a firm in a competitive market will
a. shut down and incur fixed costs. b. shut down and incur both variable and fixed costs. c. continue to operate as long as average revenue exceeds marginal cost. d. continue to operate as long as average revenue exceeds average fixed cost.
The acronym SPENT is used in connection with ______.
a. changes in quantity demanded b. changes in quantity supplied c. shifts in the demand curve d. shifts in the supply curve