Which of the following is NOT a factor of production?
A.) A toll-bridge across a lake.
B.) The money hidden in an old basement.
C.) A wrecking ball used to tear down old buildings.
D.) The CEO of a large corporation.
B.) The money hidden in an old basement.
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The demand for gasoline is inelastic and the supply of gasoline is elastic. Therefore,
A) sellers bear most of the incidence of a tax on gasoline. B) buyers bear most of the incidence of a tax on gasoline. C) the government bears most of the incidence of a tax on gasoline. D) the incidence of a tax on gasoline depends if the tax is imposed on sellers or on buyers. E) None of the above answers is correct.
Joseph earns $75,000. If his average tax rate is 18%, what is the total amount of money that he pays as tax?
A) $1,500 B) $13,500 C) $2,700 D) $15,000
Describe some of the causes of urban giantism in developing countries
What will be an ideal response?
If a member of a cartel is the first to alert authorities to the cartel behavior, which of the following will occur to this member firm?
A) The firm will face significant fines. B) The firm's most senior managers will face jail time. C) The firm will not be considered whistle -blowers. D) The firm will not be penalized.