A market structure in which the decisions of individual buyers and sellers have no effect on market price is
A) perfect competition.
B) a short-run industry.
C) a long-run industry.
D) a market supply industry.
Answer: A
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_____ taxation, either through exemptions, deductions, or credits, that are designed to further some goal of social policy
a. Indexation is a increase in b. Tax expenditures are a reduction in c. Bracket creep is an increase in d. The broadening of the tax base is an increase in
The product of nominal GDP and the GDP deflator equals the real GDP of a country
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown. If this monopolist sets the price to maximize profit, it will charge:
A. $8 for its product. B. $16 for its product. C. $10 for its product. D. $12 for its product.
Which of the following is an economic or political question regarding income redistribution?
A. How does a society go about making income distribution more equal? B. Will redistributing income from the wealthy to the poor destroy incentives? C. Will there be costs associated with income redistribution policies? D. All of the above are economic or political questions regarding income redistribution.