In choosing the form of a tax, there is often a tradeoff between
a. allocative and productive efficiency.
b. profits and revenues.
c. efficiency and fairness.
d. fairness and profits.
c
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China has a larger population than India and is expected to be the most populous nation in the world throughout the twenty-first century
Indicate whether the statement is true or false
A tendency for a good to come into favor with consumers because other consumers have chosen to buy the item is
A) price-leadership. B) negative-sum game. C) positive market feedback. D) negative market feedback.
Most people who know little about economics do know that the purpose of money is to serve as a medium of exchange, that is, you buy things with it, but they will seldom identify its two other purposes, which are to serve as a
a. measure of value and standard of value b. measure of value and store of value c. standard of value and store of value d. medium of value and store of value e. measure of value and deferred value
Mary can clean 20 windows per hour or type 30 pages of paper per hour. Tom can clean 18 windows per hour or he can type 25 pages of paper per hour. Based on this
A. Mary has comparative advantages in both activities. B. Tom has a comparative advantage in cleaning windows. C. Tom has comparative advantages in both activities. D. Mary has a comparative advantage in cleaning windows.