Which of the following types of taxes achieves vertical equity: a proportional tax, regressive tax, and/or progressive tax?
proportional, regressive, and progressive
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Refer to Figure 22-1. Within a country, the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from
A) B to A. B) B to C. C) C to A. D) A to B.
According to one study, the price elasticity of demand for restaurant meals is -2.27. This implies that if restaurants want to increase their total revenues they should:
A) increase prices. B) decrease prices. C) leave prices unchanged. D) cannot be determined with the information given.
Additions to the nation's capital stock are brought about through
A) the current account surplus. B) investment. C) investment and the current account surplus. D) investment and the government budget surplus.
Oligopoly pricing differs from pricing in other market structures. The essential difference is
a. relatively high fixed costs associated with oligopoly b. brand loyalty of consumers c. use and effect of advertising d. difference between concentration ratios and HHI e. mutual interdependence of firms