Tax revenues are an advantage of ________, which are not offered by command-and-control policies.
A. pollution allowances
B. tradeable pollution permits
C. pollution taxes
D. pollution tax credits
Answer: C
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The U.S. Constitution
A. prohibits tariffs on trade between Arkansas and New York but allows tariffs on trade between Hawaii and Alaska. B. prohibits tariffs on all trade. C. allows tariffs on trade with other countries, but not on trade between the states. D. allows tariffs only on goods purchased from the communist nations.
An economic expansion rather than a recession occurs
A) when the federal budget is balanced. B) when the unemployment rate falls below 5 percent. C) when growth in real GDP is positive. D) when the unemployment rate is not changing.
List and describe four of the six categories of economic exchanges that are omitted from GDP calculations. Explain why these transactions are not included in GDP and give an example of each to help support your answer
The definition of economic profit is
A. total revenues less fixed costs. B. the difference between receipts from sales and cost of materials. C. what is left over after all opportunity costs have been met including interest forgone. D. gross profit less selling and operating expenses.