Which of the following is most likely an action that supports competition?
A. Requiring professionals, such as architects and engineers, to be licensed
B. Granting subsidies to farmers based on production levels
C. Preventing two dominant firms in the same market from merging
D. Using tariffs to restrict the ability of foreign firms to sell products in domestic markets
Answer: C
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A decrease in a wage taxes causes the opportunity cost of leisure to increase.
Answer the following statement true (T) or false (F)
If a country produces only two goods, it is possible to have a comparative advantage in the production of both those goods
Indicate whether the statement is true or false
The exemption of municipal bond interest income from federal personal income taxes
A. generally benefits the wealthy most. B. does not help municipal governments lower financing costs because it is offset by shifting increasing municipal bond rates. C. does not help municipal governments lower financing costs because it is offset by shifting falling municipal bond rates. D. is an indirect tax on the underlying municipal bonds that generate the interest income.
If the price were $15, what would this firm do in the (a) short run? (b) the long run?
