The two taxes that together provide the U.S. federal government with almost 80 percent of its revenue are
a. individual income taxes and property taxes.
b. individual income taxes and corporate income taxes.
c. individual income taxes and payroll taxes.
d. sales taxes and payroll taxes.
c
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Refer to Table 14-2. For each firm, is there a better outcome than the current situation in which each firm charges the low price and earns a profit of $7,000?
A) Yes, the firms can implicitly collude and agree to charge a higher price. B) Yes, each firm can implicitly agree to increase output and not to deviate from a low price. C) No, there is no incentive for each firm to consider any other strategy. D) No, any other strategy hurts consumers.
Which is NOT an advantage of emissions fees over standards?
A) Fees can give a firm the incentive to reduce emissions below the standard when new technology allows. B) Fees can reduce the cost of attaining some goal level of emissions when firms all have the same abatement costs. C) Fees can reduce the cost of attaining some goal level of emissions when firms have different abatement costs and different standards can be assigned to different firms. D) Fees can reduce the cost of attaining some goal level of emissions when firms have different abatement costs and different standards cannot be assigned to different firms. E) Fees may provide an incentive for a firm to investigate emissions-reduction technology that will reduce emissions below existing standards.
All of the following are true for first-degree price discrimination except which one?
A) Consumers pay less for the first units that they purchase. B) In reality, it is impossible to practice. C) Each consumer pays the maximum price they are willing to pay for every unit purchased. D) Consumers receive no consumer surplus.
When the dollar appreciates, the prices of imported inputs
a. fall and aggregate supply shifts outward. b. fall and aggregate supply shifts inward. c. rise and aggregate supply shifts outward. d. rise and aggregate supply shifts inward.