A good is said to be excludable if
a. those who do not pay for it can be prevented from consuming it
b. those who do not produce the good can be prevented from consuming it
c. it is not traded in a public market
d. there is no rivalry in consuming it
e. its use can be continued indefinitely
A
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"Discretionary fiscal policy is a fiscal action initiated by an act of the Federal Reserve, while automatic fiscal policy is a fiscal action induced by the state of the economy." Is the previous statement correct or incorrect? Explain your answe
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The practice of charging customers different prices for the same good is called:
A. price marking. B. customer discrimination. C. group discounting. D. price discrimination.
Which of the following is TRUE about comparative advantage?
A. Comparative advantage has nothing to do with trade among nations; it only is concerned with specialization within a firm. B. Comparative advantage explains trade within nations, but not among nations. C. Comparative advantage explains trade among nations, but not within nations. D. Comparative advantage explains trade within nations and among nations.
When income is $15,000, the amount of income income taxes owed is $2,000; when income increases to $20,000, the amount owed increases to $3,000. The marginal tax rate in this case is
A. 20 percent. B. 15 percent. C. 13.3 percent. D. 25 percent.