A 5 percent tax is going to be applied to a $100,000 tax base. What can be said about the revenue collected assuming dynamic tax analysis?
A) The total revenue will be zero.
B) The total revenue will be between $0 and $5,000.
C) The total revenue will be $5,000.
D) There is not enough information to determine what revenues will equal.
B
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There are two techniques of egg production: free range (where hens roam around the farm) or factory (where hens are fed and watered in wire cages). The free range technique has a much more elastic supply curve than the factory technique
When the demand for eggs falls: A) egg production using the factory technique falls less than with the free range technique. B) egg production using the factory technique falls more than with the free range technique. C) the production using both techniques falls by the same amount. D) the factory egg producers supply curve shifts inward. E) the free range egg producers supply curve shifts inward.
If Americans demand goods produced in Mexico, it leads to a demand for Mexican pesos and a supply of U.S. dollars on the foreign exchange market
Indicate whether the statement is true or false
Global warming of the past century, and especially in the past decade, is at least partly a consequence of human activities that have increased ____ in the atmosphere.
A. smog B. PCBs C. ozone D. “greenhouse gases”
Monetarists reject using discretionary monetary policy as an effective stabilization tool because they believe:
A. if the money supply grows at a rate equal to the economy's long-run rate of economic growth, then the economy will be unstable. B. that changes in the money stock do not affect output or prices. C. the Fed will miss its money supply targets and make the economy worse. D. monetary policy can stimulate aggregate demand, but it cannot affect inflation.