In 2015, federal taxes on tobacco raised approximately
A. $1 billion.
B. $42 billion.
C. $29 billion.
D. $15 billion.
Answer: D
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If the Fed decided to target price levels and inflation was lower than its target for a period of time, the Fed would be required to
A) permanently raise inflation above its target to reach and maintain its price level target. B) permanently lower its price level target to align it with the inflation rate. C) temporarily lower its inflation target to match its price level target. D) temporarily raise inflation above its target to reach its price level target.
Each firm under perfect competition charges different prices for its products
a. True b. False Indicate whether the statement is true or false
Information products (e.g., software)
A) have relatively high fixed costs but low marginal and average variable costs. B) have relatively low fixed costs but high marginal and average variable costs. C) have relatively high fixed costs and relatively high marginal and average variable costs. D) have relatively low fixed costs and relatively low marginal and average variable costs.
During the years 1970-1986, the merchandise balance of trade in the U.S. shifted from a
A. trade deficit to a trade surplus. B. small trade deficit to a large trade surplus. C. trade surplus to a large trade deficit. D. small trade surplus to a large trade surplus.