The relationship between quantity supplied and price is usually
A. a direct relationship.
B. an inverse relationship.
C. a negative relationship.
D. impossible to determine.
Answer: A
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Refer to Table 2-12. If the two countries specialize and trade, who should export canoes?
A) Honduras B) They should both be exporting canoes. C) Guatemala D) There is no basis for trade between the two countries.
Which of the following is not an example of a two-part pricing scheme in the context of price discrimination?
A) A customer pays full price for the first 10 copies of a software program and then receives a 10 percent discount on each additional copy it buys. B) A firm, e.g., Sam's Club or Costco, charges a membership fee that is separate from the price paid for items purchased from the firm. C) A customer pays a $10 cover charge to enter a bar and then pays $5 for each beverage. D) An amusement park charges an admission fee and then charges a per unit price for each of the rides offered by the park.
The average tax rate is the rate at which an additional dollar earned is taxed
a. True b. False Indicate whether the statement is true or false
Government policies that heavily tax some activities while subsidizing others and that fix or control interest rates will result in
a. higher productivity of investment. b. lower productivity of investment. c. no change in the productivity of investment. d. a greater level of investment.