Bandile gives $100 to his favorite charity. According to economists, why did Bandile mostly likely do this?
a. from disregard for his own self-interests
b. for entirely non-personal motives
c. to selfishly use the charity as a tax deduction
d. to have the satisfaction of helping others
d. to have the satisfaction of helping others
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To maximize its profit, a single-price monopoly produces the amount of output so that its marginal revenue
A) equals zero. B) equals its marginal cost. C) exceeds its marginal cost but not necessarily by as much as possible. D) is less than its marginal cost. E) exceeds its marginal cost by as much as possible.
When a sales tax is imposed on sellers, the supply curve shifts so that the vertical distance between the old and the new supply curve equals the
A) sales tax multiplied by the price elasticity of demand. B) sales tax multiplied by the price elasticity of supply. C) amount of the sales tax. D) sales tax divided by the price elasticity of demand.
The U.S. Postal Service enjoys a monopoly position because of patent rights
a. True b. False Indicate whether the statement is true or false
The "value of money"
A) increases during economic expansions. B) is the quantity of goods and services that a unit of money can buy. C) is determined by Fed regulations. D) is directly related to the price level. E) increases during inflationary periods.