While taxes create deadweight losses in otherwise allocatively efficient markets, a corrective tax actually eliminates the deadweight loss caused by the pollution externality
a. True
b. False
Indicate whether the statement is true or false
True
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If the market clearing price of computer tablets falls from $400 to $300, and the market clearing output decreases from 5 million to 4 million units,
A) demand decreased and supply remained unchanged. B) supply increased and demand remained unchanged. C) demand increased and supply remained unchanged. D) supply decreased and demand remained unchanged.
Most trade between Mexico and the United States is intrafirm
Indicate whether the statement is true or false
Which of the following is true of fiscal spending at the federal, state, and local levels of the U.S. government?
a. In 2009, total government spending equalled around $1 billion. b. Investment expenditure in the U.S. exceeds the total spending at all levels of government. c. Government spending at federal, state, and local levels declined steadily from the 1960s until about 1980. d. Through the 1950s and 1960s, the U.S. government maintained a balanced budget. e. Federal government spending exceeds state and local government spending in the U.S.
Which country was among the lowest ranking by the World Bank for effective protection of property rights and rule-based governance?
a. South Korea b. Venezuela c. Central African Republic d. Iran