The euro began trading in January 1999
a. True
b. False
Indicate whether the statement is true or false
True
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A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. The monopoly's profit maximizing price is
A) 55. B) 50. C) 45. D) 40.
Corporate profits are taxed twice because
A) taxes are collected on profits before profits are distributed to shareholders. B) the government wants to minimize the amount of tax paid on capital gains. C) it is economically efficient to reduce the amount of retained earnings. D) capital gains are not indexed to the rate of inflation.
Government intervention
a. can provide incentives to conduct business in an illegal black market b. plays no role in generating wealth c. is the best way to eliminate poverty d. does not enforce property rights
Consider two people, Sandy Roos, who earns $25,000 . and Gary Behrman, who earns $50,000 . If the government has decided to tax everyone's first $25,000 at 20 percent and everyone's second $25,000 at 40 percent, then Gary pays
a. $10,000 in taxes and Sandy pays $5,000 in taxes b. $10,000 in taxes and Sandy pays $10,000 in taxes c. $15,000 in taxes and Sandy pays $5,000 in taxes d. $15,000 in taxes and Sandy pays $10,000 in taxes e. $17,000 in taxes and Sandy pays $5,000 in taxes