Which of the following is an example of a direct tax?
a. sales tax
b. property tax
c. gasoline tax
d. income tax
d
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Consider the market for nonalcoholic beers from the previous question. Which of the following is the best-response function for Boors from the Bertrand game?
a. PB = -2.5 + .05PC b. PB = 2.5 + .05PC c. PC = 2.5 - .05PB d. PB = 2.5 - .15PC
Supplementary Security Incomes are provided by the U.S. government to those who:
a. regularly pay a social security tax. b. are below 65 years of age. c. lack the required education to be absorbed in the job market. d. earn less than $4,500 per year. e. are temporarily unemployed.
A country seeking to increase tourism will probably increase the production of
a. tractors b. hotels c. nuclear weapons d. artificial bologna
A free good is different from a scarce good because it is:
A) not tradable. B) not produced. C) not scarce. D) found only in nature.