The firm in a perfectly competitive industry is a
A) price taker.
B) price maker.
C) price seeker.
D) price dealer.
A
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The primary effect of an inheritance tax is _____
a. to encourage the liquidation of assets b. provide significant government revenue c. encourage capital formation d. the encouragement of pre-death asset transfers
Which one of the following colonial groups actually benefited from the Navigation Acts?
a. Southern tobacco farmers b. New England shipbuilders c. colonists who bought goods imported from non-imperial sources d. No colonial group benefited from the Navigation Acts.
In the Sherman Antitrust Act, the phrase “restraint of trade” referred to ______.
a. tariffs and taxes b. boycotts ad embargoes c. overproduction and surplus d. price fixing and collusion
If the area between the line of equality and the Lorenz curve is 1,000, the Gini ratio is
A) 0.8. B) 0.2. C) 0.1. D) 0.5.