Consumers have the tendency to replace a more expensive item with an even more expensive item.
a. true
b. false
Ans: b. false
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For a demand curve that is horizontal, the marginal revenue curve
A) will be to the right of the demand curve and half as steep. B) will be to the left of the demand curve and half as steep. C) will be to the right of the demand curve and twice as steep. D) will be the same as the demand curve.
If more buyers came into the market for a good, we would expect to see the market demand curve
A) shift inward and to the left. B) remain unchanged since none of the determinants of individual demand changed. C) shift outward and to the right. D) reflect a positive relationship between price and quantity demanded.
Dividends are equal to
A. Capital gains minus retained earnings. B. Corporate profits plus retained earnings. C. Corporate profits. D. Corporate profits minus retained earnings.
During 1960-1980, those with the highest incomes confronted federal marginal tax rates between 70 and 90 percent. Since 1986, the highest federal income tax rate has been less than 40 percent. Since 1986, the share of the personal income tax collected from the top one-half of one percent of earners has been
What will be an ideal response?