Traditional bank notes promised to pay the bearer a specific quantity of
A) cigarettes.
B) consumer goods and services.
C) metallic money.
D) durable goods.
E) interest.
C
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In a progressive tax structure:
a. both the tax rate and absolute tax amount increase with an increase in income. b. the tax rate remains constant, but the absolute tax amount increases with an increase in income. c. both the tax rate and absolute tax amount decline with an increase in income. d. the tax rate falls,but the absolute tax amount increases with an increase in income. e. the tax rate increases, but the absolute tax amount decreases with an increase in income.
Refer to the table shown. The average variable cost of producing 5 units of output is:Units of outputTotal cost05111216320423525626
A. $2. B. $3. C. $4. D. $5.
In an oligopolistic industry, the price firms charge and the quantity they produce would be the same as if the industry were a monopoly if
A. the market is contestable. B. the oligopolists collude. C. one of the oligopolists acts as a dominant firm price leader. D. the oligopolists behave as Cournot assumed.
A goal of ________ is to give patients an incentive to pay more attention to the prices of medical services. This would tend to increase economic efficiency by decreasing the costs of medical services
A) government-provided health care B) market-based reforms of the health care system C) socialized medicine D) the Patient Protection and Affordable Care Act (ACA)