Because the nominal interest rate is always positive, the discount factor is always
A) negative.
B) greater than one.
C) zero.
D) less than one.
D
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If the price elasticity of supply is equal to infinity and the price was to fall, the quantity supplied would:
A. decrease slightly. B. fall to zero. C. not change. D. increase.
Which of the following forms of taxation accounts for the largest share of taxes received by state and local governments?
A. personal and corporate income taxes B. sales, excise, and gross receipts taxes C. property taxes D. license and permit fees
The U.S. Steel case of 1920 and the Alcoa case of 1945 dealt with which antitrust issue?
A. To what extent should firms be limited in buying plant and equipment from other firms? B. Should an industry be judged by its behavior or by its structure? C. Should the steel and aluminum industries be considered natural monopolies? D. Should mergers be permitted between firms in closely related industries?
Veblen goods:
A. are an excellent example of the individual nature of utility. B. are goods which consumers buy to show how wealthy they are. C. are goods that people buy more of when their income decreases. D. are inferior goods.