Local government expenditures depend on which taxes?

A) revenues from licenses and permits
B) local property, sales, and excise taxes
C) capital gains taxes
D) Social Security taxes


Answer: B

Economics

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Why does perfect competition often lead to a market in which profits tend toward zero?

What will be an ideal response?

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In the above figure, what is the profit-maximizing price and output?

A) $9, 14 B) $13, 14 C) $11, 16 D) $10, 17

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The amount of a good that must be given up to produce another good is the concept of:

a. scarcity. b. specialization. c. trade. d. efficiency. e. opportunity cost.

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Oligopolists almost always cooperate in making price and output decisions

a. True b. False Indicate whether the statement is true or false

Economics