A tax levied on the value of physical assets such as land, or financial assets such as corporate stocks and bonds, is known as a(n)
a. corporate income tax
b. property tax
c. excise tax
d. unit tax
e. customs duty
B
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Which of the following statements is true of a monopolist's supply curve?
A) The supply curve is vertical. B) The supply curve is upward sloping. C) The supply curve is downward sloping. D) A monopolist does not have a supply curve.
All else the same, when the Fed calls in a $100 discount loan previously extended to the First National Bank, reserves in the banking system
A) increase by $100. B) increase by more than $100. C) decrease by $100. D) decrease by more than $100.
The Molasses Act (1733)
a. aimed to decrease trade between the colonies and the French West Indies. b. was flaunted with impunity by the colonists. c. placed a high tariff on colonial imports of foreign sugar, molasses and rum. d. if enforced would have disrupted one of the major colonial trades. e. All of the above.
As more and more resources are dedicated to an activity
a. the benefits will increase proportionately. b. the benefits will become smaller and smaller while the costs will rise. c. the demand for that activity will increase. d. the costs will be offset by the benefits received from the activity.