The government of Silverado raises revenue through a general income tax paid by all its residents to operate the city's marina. The marina is used by private boat owners. This method of raising revenue to operate the marina is
A) inconsistent with the benefits-received principle.
B) consistent with the benefits-received principle.
C) consistent with the ability-to-pay principle.
D) inconsistent with the ability-to-pay principle.
A
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Which of the following statements is true of data?
A) Anecdotes work as good substitutes for data. B) Data help in verifying causal relationships. C) Data are not important to evaluate theories. D) The less the available data, the better the analysis.
Once profit is maximized at the output level where MR = MC, profit can be calculated by subtracting the ATC from price and multiplying the result by the quantity produced
Indicate whether the statement is true or false
Refer to the above figure. Which of the following statements about panel D in the figure is TRUE?
A. The figure is in error since it has marginal cost intersecting the ATC curve at a point other than the minimum of ATC. B. The figure is in error since it doesn't show the monopolistic competitor making profits in the long run. C. The figure represents a long-run equilibrium for a monopolistic competitor. D. The figure represents an industry long-run equilibrium for monopolistic competition.
Davis and Haltiwanger showed that ________ churning of jobs occurs and that this churning reflects closing of old plants and opening of new ones ________.
A. much; in different industries B. little; within the same industry C. little; in different industries D. much; within the same industry