Which of the following describes two-part tariff pricing?
A) A firm charges two different prices for the same good.
B) An importer has to pay a tax at the nation's borders, and a sales tax when the good is sold.
C) A buyer must pay a down payment and monthly payments to buy big-ticket items such as a car, a plasma television, or a suite of furniture.
D) A buyer pays an initial price for entrance to the market and an additional fee for each unit of the product purchased.
D
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How do a partnership and a corporation differ?
A) Corporations face more taxes than do partnerships. B) Corporations can issue stocks and bonds, while partnerships cannot. C) Partnerships have unlimited liability while corporations have limited liability. D) All of these are differences between the two types of businesses.
Refer to Scenario 16.1. Initially Sam and Sally are allocated 10 cheese doodles and 10 pretzels each. Which of the following statements are TRUE?
A) The initial allocation is Pareto optimal as it is equitable. B) The initial allocation is Pareto optimal as Sally and Sam have equal amounts of both goods. C) The allocation is not Pareto optimal. An allocation that gave Sam all of the cheese doodles and Sally all of the pretzels would make both of them better off. D) The allocation is not Pareto optimal. An allocation that gave Sam four of the cheese doodles and sixteen of the pretzels (leaving Sally the rest) would make both of them better off.
Which piece of legislation committed the government to pursuing unemployment policies that are consistent with maintaining price stability?
a. The Effective Pricing Act of 1971 b. The Employment Initiative Act of 1998 c. The Employment Act of 1946 d. The Stable Growth Act of 1960
With respect to environmental issues, the GATT:
a. does not allow countries to adopt environmental laws that affect imports. b. allows countries to adopt environmental laws that affect domestic production but not imports. c. allows countries to adopt environmental laws that are applied uniformly against domestic producers and imports. d. allows countries to adopt more stringent laws affecting imports than domestic producers.