A sales tax is an example of an excise tax
Indicate whether the statement is true or false
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Which of the following is not part of an oligopolist's business strategy?
A) determining the amount of advertising a new product needs B) deciding the level of total output of a new product C) meeting worker health and safety standards required of all firms D) setting the product's price after considering what rivals will do
Which of the following would be considered an ongoing expense?
A. Employee salaries B. Raw materials C. Advertising D. All of these could be considered ongoing expenses.
Under perfect competition, the market mechanism, without any government regulation, is capable of
a. allocating resources efficiently. b. solving equity problems. c. making the average cost of labor equal to the average cost of all commodities. d. making more income available to the poor.
In the period of U.S. economic history known as the Great Depression, the rate of inflation was generally
A. trending upward. B. positive. C. uncertain. D. negative.