In general, developed countries depend more heavily on indirect taxes on goods and services than do developing countries
a. True
b. False
Indicate whether the statement is true or false
False
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People trade because
A) they are able to take advantage of others. B) government regulates the market. C) the must do so. D) they make themselves better off.
The beginnings of the New York Stock Exchange can be traced back to a small group of men who bought and sold stock in New York in
A) 1792. B) 1866. C) 1892. D) 1929.
Which value is higher? a) $1,000 today or b) $10,000 in 20 years if the interest rate is 12%.
What will be an ideal response?
The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
Suppose the game above is repeated every day, and both firms adopt the following strategy: cooperate on the first day, then if the other firm cheats, cheat the next day, and if the other firm abides, abide the next day. This type of strategy is likely to increase the probability that:
A. both firms abide. B. Bagel World cheats. C. both firms cheat. D. Bagels 'R' Us cheats.