Corporate profits are taxed by state and local governments, but not by the federal government
Indicate whether the statement is true or false
FALSE
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If Eddie can produce 40 milk shakes or 20 banana splits in an hour, and Tina can produce 30 milk shakes or 16 banana splits in an hour, then Eddie has a comparative advantage in producing banana splits
Indicate whether the statement is true or false
The effects of an increase in real money demand on an economy
A) is an argument against flexible exchange rates. B) is an argument in favor of flexible exchange rates. C) shows the difficulties in determining which exchange rate regime is better. D) is an argument in favor of flexible exchange rates only in the short run. E) is an argument against flexible exchange rates only in the short run.
Consumer surplus is
a. a concept that helps us make normative statements about the desirability of market outcomes. b. represented on a graph by the area below the demand curve and above the price. c. a good measure of economic welfare if buyers' preferences are the primary concern. d. all of the above are correct.
Refer to the table below. Suppose that the Germans decide to import more products from the United States. Other things constant, the dollar price of a euro would be expected to:
The following table gives hypothetical data on the dollar price of Euros.
A. Increase and the dollar to depreciate
B. Decrease and the dollar to depreciate
C. Increase and the dollar to appreciate
D. Decrease and the dollar to appreciate