Which of the following sources of revenue is used to fund government spending?
A) political party contributions B) interest
C) taxation D) corporate contributions
C
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A negative externality is a situation in which
A) there is a spillover of benefits. B) a cost associated with an economic activity is borne by a third party. C) a firm is paying in excess of the total costs of producing a good. D) none of the above.
One thing that is not true about cooperatives is that they
a. put out raw materials, like wool and cotton, to rural households that turn it into finished products b. pool resources to buy and sell more efficiently c. try to minimize costs d. operate with limited liability of members e. enjoy tax-exempt status
The competitive firm's short-run supply curve is that portion of the
a. average variable cost curve that lies above marginal cost. b. average total cost curve that lies above marginal cost. c. marginal cost curve that lies above average variable cost. d. marginal cost curve that lies above average total cost.
Jackson hates to work. He receives a great deal of enjoyment from leisure time. Jackson's elasticity of labor supply is
A. 1. B. Low, perhaps even negative. C. Highly negative. D. High.