Which of the following is a good proxy for the measure of economic prosperity when GDP per capita data is unavailable?
A) Measurements of producer surplus B) Measurements of consumer surplus
C) Measurements of balance of payments D) Measurements of urbanization
D
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Drive with Us is an automobile retailer and pays floor plan financing to finance the cars they hold in inventory. If the interest rate on their floor plan financing increases from 4 to 5 percent, Drive with Us's expected marginal cost from holding additional cars in inventory will shift ________ and the profit-maximizing number of cars to hold in inventory will ________.
A) downward; increase B) upward; increase C) upward; decrease D) downward; decrease
A congress member concerned about ensuring vertical equity in taxation would be most likely to argue for obtaining government revenue through a
a. progressive tax on personal income. b. regressive tax on corporate income. c. sales tax. d. head tax.
The infant industry argument for protection makes sense if the infant industry is
A. able to compete against foreign firms now, but not in the future. B. not able to compete against foreign firms now, but will be able to in the future. C. not be able to compete now or in the future. D. able to compete now and in the future.
Given the data in the above table, what is the marginal revenue when the 15th unit is sold?
A. $5.00 B. $3.00 C. $1.00 D. $7.00