The $1.90 (PPP) per day line was chosen by averaging the national poverty lines of 15 poor countries to represent:
A. chronic poverty by some globally comparable standard.
B. absolute poverty by some globally comparable standard.
C. transient poverty by some globally comparable standard.
D. relative poverty by some globally comparable standard.
B. absolute poverty by some globally comparable standard.
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Value added taxes _____
a. have the same tax base as a consumption tax b. have the same tax base as an estate tax c. have the same tax base as a retail sales tax d. have the same tax bas as an income tax
The market for used cars is shown in the above figure. Ten percent (10%) of all cars are lemons. A mechanic is offering to inspect a car for sale and certify that a car is not a lemon
If car sellers are risk neutral, what is the highest price that a car seller would pay for such a service? Who would buy this service?
To avoid the problem of double marginalization:
A. firms should engage in commodity bundling, unless it is possible to engage in either first-or second-degree price discrimination. B. transfer prices must be set that maximize the overall value of the firm rather than the profits of the upstream division. C. firms should put more emphasis on vertical integration. D. firms should engage in two-part pricing.
Figure 3.3 illustrates the supply and demand for t-shirts. If the actual price of t-shirts is $7, we would expect that:
A. demand will decrease until quantity demanded equals quantity supplied. B. supply will increase until quantity demanded equals quantity supplied. C. price will increase until quantity demanded equals quantity supplied. D. there will be no change in the price since the market is in equilibrium.