The most important source of state tax revenue is the _____ tax.
A. property
B. income
C. excise
D. sales
D. sales
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The point of diminishing returns means that output will decrease at an increasing rate
Indicate whether the statement is true or false
Believers in a fixed-rule approach to stabilization policy propose that
a. Congress should balance the high employment budget. b. the Fed should keep the money supply growth constant. c. the economy be stabilized by automatic mechanisms. d. All of the above are correct.
Which of the following is true?
A. Monopolists never lose money regardless of short-run or long-run. B. Monopolies can be overcome by market forces or by government action. C. The most efficient output is found where MC and MR cross. D. The automobile industry is an example of a monopoly.
According to the above figure, the profit maximizing price-output combination for the monopolist is a price of
A. 60 cents and an output of 30,000 newspapers per day. B. 50 cents and an output of 40,000 newspapers per day. C. 30 cents and an output of 30,000 newspapers per day. D. 45 cents and an output of 45,000 newspapers per day.