The four sources of income for the household are
a. taxes, subsidies, imports, interest
b. taxes, interest, rent, rebates
c. interest, rebates, rent, taxes
d. wages, taxes, imports, interest
e. wages, rent, interest, profits
E
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Which of the following is an example of signaling in a market with asymmetric information?
A) Certification of used cars by third parties B) Rent controls imposed by the government C) Discounts offered by sellers during the holiday season D) Taxation of alcoholic beverages
Optimal commodity taxation would
A. put a tax on leisure time, which is currently untaxed. B. have the smallest amount of excess burden possible for a given amount of tax revenue. C. optimize tax rates on the wealthiest Americans. D. eliminate tax evasion in the United States.
Firms in perfectly competitive markets who wish to maximize profits should produce where:
A. marginal revenue and marginal cost are equal. B. marginal revenue and market price are equal. C. marginal revenue and average revenue are equal. D. marginal cost and average cost are equal.
At which point in Figure 9-7 would a perfectly competitive firm earn the same profit, or suffer the same loss, by producing rather than by shutting down?
a.
A
b.
B
c.
C
d.
D
e.
F