Travel websites such as Travelocity tend to offer reservation services for multiple travel modes. This is because
A) the firms have contractual obligations to offer reservations for airlines and railroads, for example.
B) the firms have statutory obligations to offer reservations for airlines and railroads, for example.
C) once the firm has the reservation technology for airlines, there are economies of scale in offering the same service for railroads.
D) once the firm has the reservation technology for airlines, there are economies of scope in offering the same service for railroads.
D
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In the 1930s the United States charged an average tariff rate
A) that cut its exports to other countries by 50 percent. B) that exceeded 50 percent. C) that was less than its average tariff rate in 2007. D) that was less than 2 percent.
The changes contained in the 1986 and 1993 tax reforms
A. Reduced the variation in the nominal tax rates. B. Resulted in a top marginal tax bracket of 85 percent. C. Increased the variation in the effective tax rates. D. Broadened the tax base and also raised tax rates.
The essential functions of any central bank are:
A. preventing the formulation of monopolies or other market failure, and acting as a lender of last resort. B. managing the money supply, and acting as a lender of last resort. C. overseeing major business transactions, and managing the money supply. D. collecting taxes, and managing the supply of money.
What is one role of the federal government's Department of Justice?
(A) To eliminate all barriers to entry. (B) To break up monopolies. (C) To encourage price fixing. (D) To provide businesses with loans for start-up costs.