The largest source of tax revenues for states is
A. general sales.
B. motor fuel.
C. alcoholic beverages.
D. tobacco.
A. general sales.
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Government revenue from printing money is referred to as:
A) menu costs. B) seigniorage. C) shoeleather costs. D) excise tax
If the exchange rate rises, then the quantity of dollars demanded ________ because with the higher U.S. exchange rate, U.S. exports ________
A) decreases; increase B) increases; decrease C) decreases; decrease D) increases; increase E) does not change; do not change
Beachcomber Beatrice spent her entire wealth of $100,000 to build a beach house on the Gulf of Mexico. There is a 10 percent chance that the house will be destroyed by a hurricane. Beatrice's utility of wealth schedule is given in the table above
What is the maximum amount that Beatrice would be willing to pay for an insurance policy that pays $100,000 if her beach house is destroyed by a hurricane? A) $10,000 B) $30,000 C) $40,000 D) $60,000
If market price is greater than or equal to the minimum of AVC but below the minimum of AC, then
A) the firm will shut down. B) the firm will operate because its loss is less than if it shut down. C) revenue is lower than variable costs. D) profit is positive and so the firm will operate.