An example of an industry that is an oligopoly would be
a. medical doctors
b. auto manufacturing
c. landscaping
d. restaurants
Ans: b. auto manufacturing
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Which of the following is not a potential problem in using corrective taxation to deal with a negative externality?
a. Measuring the cost of the externality. b. Estimating the supply curve of the externality creator. c. Determining who is responsible for the externality. d. Determining how the tax should be applied.
If a good sells for $10 domestically and the same good sells for $7 abroad, then this firm is engaging in
A) marginal cost selling. B) price discrimination. C) price differentiation. D) dumping.
Which of the following istrueconcerning the indifference map?
a. Each consumer has a map of indifference curves. b. Consumers always prefer curves farther from the origin. c. Each indifference curve in the map represents a different level of total utility. d. All of the above are true. e. None of the above is true.
A discouraged worker is one who: a. is underqualified for his current job
b. dislikes his current job but is afraid to quit. c. drops out of the labor force because he cannot find a job. d. quits his job because the possibility of advancement was very low. e. is overqualified for his current job.