Payments that a firm makes to obtain needed resources comprise its:
A. Costs
B. Profits
C. Capital
D. Revenues
Answer: A
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What is the rationale behind a marketable emission allowance scheme?
A) to discipline polluting firms by specifying the maximum amount of emissions allowed and giving them permits to pollute up to their allowance B) to provide firms with the incentive to consider less costly alternatives to pollution reduction by making firms pay for the right to pollute beyond their specified allowance C) to raise revenue for the government through the sale of emission permits and at the same time set an emissions target D) to create a market for externalities: the scheme brings together buyers and sellers of marketable permits
Recent research estimates that the short-run price elasticity of demand for gasoline in the U.S. is -0.3, and the long-run price elasticity of demand is -1.4. What happens if the govenment increases the federal gasoline tax?
A) Consumer expenditures on gasoline increase over the short run and long run B) Consumer expenditures on gasoline decline over the short run and increase over the long run C) Consumer expenditures on gasoline increase over the short run and decline over the long run D) Consumer expenditures on gasoline decrease over the short run and long run
Retail is
A) downstream. B) upstream. C) is reversed extraction. D) impossible to outsource.
In Eugene, Oregon, there are several Italian restaurants, each offering slightly different items prepared in slightly different ways. It is likely that an Italian restaurant in Eugene, Oregon, operates in a(n):
A. perfectly competitive market. B. monopolistically competitive market. C. monopoly market. D. oligopoly market.