Suppose there is only one firm producing steel, one producing fiberglass, and one producing concrete. If steel and concrete are considered substitute goods in construction, while steel and fiberglass are considered substitute goods in auto production, there is no monopoly in the
a. steel market
b. fiberglass market
c. concrete market
d. construction market
e. boat market
D
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On a balance sheet, stockholder's equity is equal to
A) assets minus liabilities. B) long-term liabilities minus current liabilities. C) total assets minus goodwill. D) the total value of outstanding shares of stock.
In 1999, around 24 percent of college students attended private schools
a. True b. False
An increase in personal income tax rates will cause a(n):
a. Increase in the quantity of real domestic output demanded b. Decrease in the quantity of real domestic output demanded c. Decrease in aggregate demand d. Increase in aggregate demand
The federal personal income tax is
A. direct and regressive. B. direct and progressive. C. indirect and regressive. D. indirect and progressive.