Introducing a tariff on vitamin E would:
a. reduce imports of vitamin E
b. increase U.S. consumption of domestically produced vitamin E.
c. decrease total U.S. consumption of vitamin E.
d. all of the above.
d
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Use the following cost table to answer the next question.OutputAverage Variable CostAverage Total CostMarginal Cost0---2$2.50$27.50$2.542.0014.501.562.0010.332.082.138.382.5102.307.303.0122.506.673.5143.006.576.0164.007.1311.0The table shows cost data for a perfectly competitive firm. If the market price for the firm's product is $6, what output level will the firm produce to maximize profits?
A. 16 B. 12 C. 0 D. 14
The local banking industry currently has a Herfindahl-Hirschman index (HHI) value of 1945 and two of the competing banks have considered merging. Because the merger would raise the HHI by 155 points, the Federal Trade Commission would likely
A) challenge the merger. B) not challenge the merger. C) allow the merger as long as the HHI did not increase by more than 155 points as promised. D) allow the merger under the condition that the HHI remain at the premerger level of 1875.
Which statement is false?
A. Suburbanization was the migration of tens of millions of middle-class Americans—nearly all of them white—from the cities to the suburbs. B. The people who moved to the suburbs were replaced in the cities by millions of poor people, the large majority of whom were black and Hispanic. C. The inner cities today are socially isolated from the rest of the country. D. None of these statements are false.
Refer to Table 18-8. The tax system is
A) regressive throughout all levels of income. B) progressive throughout all levels of income. C) progressive between $10,000 and $12,000 of income and regressive between $12,000 and $22,000. D) proportional throughout all levels of income.