In monopolistic competition, if a firm makes modest changes in its price or output, it will influence the market shares of other firms in the market.
Answer the following statement true (T) or false (F)
False
In monopolistic competition, modest changes in the output or price of any single firm will have no perceptible influence on the sales of any other firm. This relative independence results from the fact that the effects of any one firm's behavior will be spread over many other firms (rather than only two or three other firms, as in an oligopoly).
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The Dodd-Frank legislation of 2010 permanently increased the federal deposit insurance to
A) $40,000. B) $100,000. C) $200,000. D) $250,000.
A tax levied on the value of physical assets such as land, or financial assets such as corporate stocks and bonds, is known as a(n)
a. corporate income tax b. property tax c. excise tax d. unit tax e. customs duty
The total burden of a tax is the
a. absolute number of dollars an individual pays. b. percentage of income a person pays. c. number of dollars a person must be given after taxation to make him as well off as he was before taxation. d. revenue lost to loopholes.
An increase in individual income taxes ________ disposable income, which ________ consumption spending
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases