Figure 4-24
Refer to . The per-unit burden of the tax on sellers is
a.
P3 - P1.
b.
P3 - P2.
c.
P2 - P1.
d.
Q2 - Q1.
c
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Which of the following would be part of the nation's current account?
A) An old house purchased by an American in Italy B) The purchase of a U.S. Treasury bond by a foreigner C) The interest an American earns on a British bond D) A factory built by the Japanese in the United States
Which of the following helps explain why pesticides account for much of the water pollution in the United States?
a. Pesticide regulations were repealed during the Reagan administration. b. Pesticide regulations are often administered by state environmental protection agencies, not the federal Environmental Protection Agency. c. Pesticide regulations are administered by the federal Environmental Protection Agency, not by state agencies. d. Pesticide regulations are often administered by state agricultural departments rather than environmental protection agencies. e. Pesticide regulations are often administered by state environmental protection agencies rather than agricultural departments.
When the price ceiling on eggs is lifted, there is a shortage of eggs in the market
a. True b. False Indicate whether the statement is true or false
Productive inefficiency implies that
A) it is possible to obtain gains in one area without losses in another. B) it is impossible to obtain gains in one area without losses in another. C) there are too many resources. D) there are too few resources. E) none of the above