At the federal level, the single most important tax, accounting for slightly less than half of revenue, is the:
a. corporate income tax.
b. personal income tax.
c. estate tax.
d. property tax.
e. sales tax.
b
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The strategic argument for protectionism holds that a nation may sometimes have to threaten protectionism to induce other countries to drop their own protectionist measures.
Answer the following statement true (T) or false (F)
The demand for loanable funds curve slopes downward because the
A) expected rate of profit is related positively to the real interest rate. B) real interest rate is the opportunity cost of investment. C) price of bonds and stocks is not related to the real interest rate. D) higher the real interest rate, the lower the cost of investment. E) expected rate of profit is factor that "rewards" firms for their investment.
Suppose that the price of flour used to produce bagels increases. Hence the equilibrium price of a bagel ________, and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; does not change
Perfect price discrimination:
A. minimizes producer surplus. B. maximizes consumer surplus. C. requires each customer to pay exactly his or her willingness to pay. D. is not efficient.