At the beginning of the year, AAA-1 Towing owns trucks and buildings for a total value of $1 million. During the year, it invests $250,000 to replace towing trucks worth $230,000 destroyed in a flood and to cover $50,000 worth of depreciation
AAA-1 Towing's net investment was
A) $20,000. B) $250,000. C) -$30,000. D) $200,000. E) $280,000.
C
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In tit-for-tat, if your partner ________ in your first interaction, then you will ________ in your next interaction.
A. defects; cooperate B. defects; defect C. defects; refuse to play D. cooperates; defect
The price of gasoline in Europe is about three times that in the United States, mainly because the European gas tax is higher than the U.S. gas tax
How would an increase in the gas tax in the United States to the European level change carbon emissions? Would this tax increase bring greater efficiency or would it increase deadweight loss?
What could happen to render the price ceiling set in the graph shown non-binding?
A. Demand could increase, and shift to the right.
B. Demand could decrease, and shift to the left.
C. Supply could decrease, and shift to the left.
D. None of these would cause the price ceiling to be non-binding.
X-inefficiency implies:
a. the practice of using less than the optimal amount of inputs for production. b. the practice of using the lowest quantity of input to produce maximum output. c. always producing less than the optimal amount of output. d. excessive use of inputs relative to best-practice methods.