According to your text, which of the following represents the largest source of tax receipts for the Federal government?
A) sales taxes
B) individual income taxes
C) corporate income taxes
D) property taxes
Answer: B
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Whether a particular technological innovation is good for a particular worker depends on the effect of that innovation on the worker's:
A. reservation price. B. labor mobility. C. union contract. D. marginal product.
The argument that developing countries should nurture their infant domestic industries by protecting them from foreign competition is known as
A) the infant industry argument. B) the escape clause hypothesis. C) preservation of the home market. D) institutional fair trade policy.
At his current level of output, a monopolist has an MR of $10, an MC of $6, and an economic profit of zero. If the market demand curve is downward sloping and his marginal cost curve upward sloping, the monopolist
a. is producing his profit-maximizing level of output. b. could increase his profit by increasing his output. c. could increase his profit by increasing his price. d. should exit the market if he has positive fixed cost.
“Market forces” consist of ______.
a. government agencies b. thousands of consumers c. thousands of producers and government agencies d. millions of producers and consumers