According to the Laffer curve, when the tax rate is 100 percent, tax revenue will be:
a. 0.
b. at the maximum value.
c. the same as it would be at a 50 percent tax rate.
d. greater than it would be at a 50 percent tax rate.
e. the same as it would be at a 20 percent tax rate.
a
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Refer to the figure above. What is the market-wide consumer surplus when the market price of calculators is $6?
A) $20 B) $35 C) $50 D) $70
In the figure above, Jill is producing at point A. Jill's opportunity cost producing one pair of pants is
A) 2 shirts per pair of pants. B) 3 shirts per pair of pants. C) 3/5 of a shirt per pair of pants. D) 5/3 of a shirt per pair of pants.
Which of the following factors affect vertical integration of firms?
a. The demand for the final product in the market. b. The market power of each firm in an industry. c. The number of firms in an industry. d. The transaction cost at each stage of production.
Which is not a function of the Fed?
A. Serving as a lender of last resort B. Providing financial services such as check clearing to commercial banks C. Conducting monetary policy D. Directly financing U.S. budget deficits