The framers of the Constitution sought to limit the economic role of the government as evidenced by
A) all of the above.
B) the enumeration of the permissible powers of the federal government in Article I, Section 8.
C) the 5th Amendment's limitation on the government's power to take private property.
D) the 10th Amendment's allocation of all non-enumerated powers to the states and the people.
A) all of the above.
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Which of the following factors will NOT cause a shift in the demand for a good?
A) A change in consumer incomes B) A change in the market price of the good C) A change in the number of consumers D) A change in tastes and preferences
How would a merger between Coca-Cola and Pepsi Cola affect the four-firm concentration ratio for the soft drink market? How would it affect the Herfindahl-Hirschman Index for the soft drink market?
What will be an ideal response?
Refer to Table 20-3. Assume the market basket for the consumer price index has three products—Cokes, hamburgers, and CDs—with the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals
A) 75. B) 93. C) 108. D) 121.
An export subsidy differs from a tariff in each of the following ways EXCEPT
A) a tariff generates revenue. B) a tariff is applied to imports. C) a tariff results in an efficiency loss. D) a tariff is a tax. E) a tariff discourages imports.