An increase in the price of maple syrup will decrease both the equilibrium price and quantity in the market for pancakes
a. True
b. False
Indicate whether the statement is true or false
True
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If a firm buys the assets of a firm with cash, it may be in violation of the Celler-Kefauver Act
a. True b. False Indicate whether the statement is true or false
A payroll tax is a tax on the:
A. earnings of individuals. B. income earned by buying investments and selling them at a higher price. C. wages paid to an employee. D. value of a good or service being purchased.
When money is used as a medium of exchange
A. it reduces the number of transactions in the economy. B. the need for a barter system diminishes. C. the cost of transactions increases. D. the need for a banking system in the economy decreases.
Suppose unregulated production of pesticides results in an equilibrium price and quantity of $400 and 1,000 tons per day, respectively, and a marginal external cost of $10 a ton
a) If the government were to eliminate the external cost by using taxes, what should the tax equal? b) Would the government action described above affect the quantity of pesticides produced? If yes, how? If no, why not?