This president made the campaign promise: "Read my lips: no new taxes." ______________.
Fill in the blank(s) with the appropriate word(s).
George H.W. Bush
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There is some debate about whether secondary benefits should be considered when assessing public policy proposals. Identify two reasons why secondary benefits might be excluded from a benefit-cost analysis of proposed environmental policy.
What will be an ideal response?
The Dow Jones Industrial Average is computed based on
A) thirty blue-chip stocks. B) five hundred blue-chip stocks. C) all stocks sold on the NYSE. D) all stocks sold on all organized exchanges in the United States
Suppose a family-owned yogurt shop has $80,000 in total revenues, $36,000 in rent, and $20,000 in additional operating costs. The husband and wife work in the shop and pay no wages to themselves or others. The economic profits from the shop are
A) $24,000. B) less than $24,000. C) more than $24,000. D) $80,000.
A picture frame company operates in a monopolistically competitive market. Its short-run equilibrium price is $80 and its ATC is $65 . It sells 100 picture frames a week. From this we can tell:
a. this firm is making a normal profit. b. other picture frame companies will want to exit the market. c. there are no other picture frame companies in the area. d. economic profits are $1,500. e. total profits are being maximized.