In economics, the term "free market" refers to a market where no sales tax is imposed on products sold
Indicate whether the statement is true or false
FALSE
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The supply of Thai baht in the foreign exchange market originates with:
a. tourists who go on vacation to Thailand. b. the export of Thai oranges and other goods. c. Thai residents who wish to purchase goods from other countries. d. the Thai royal family. e. Thai central bank intervention to stop the peseta from depreciating.
A tax that is structured so that people pay the same percentage of their income in taxes is called a(n):
A. flat tax. B. regressive tax. C. progressive tax. D. excise tax.
Consider an NBA superstar Kobe Bryant and one of your economics professors. Who is likely to receive more economic rent in his/her job? Explain your answer
What will be an ideal response?
If the average variable cost of the fifth hat is $50, then the total variable cost of five hats is
A. $10. B. $250. C. $1,800. D. indeterminate from this information.