An example of the specificity rule in action is
A. imposing price floors on "clean" products as a way to increase the demand for these products.
B. taxing the production of a product whose production creates a great deal of pollution.
C. taxing the consumption of a product whose production creates a great deal of pollution.
D. restricting imports to reduce environmental pollution.
Answer: B
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Suppose that you and two friends have an opportunity to purchase a pizza restaurant. Each of you would put up $75,000 . The revenue from the restaurant is expected to remain $200,000 per year for the next several years
The costs (not including the opportunity costs of your investment) of operating the restaurant are expected to remain steady at $185,000 for the next several years. The current market rate of interest is 7 percent per year. Should you go in on this deal? Explain.
Which of the following $1,000 face-value securities has the highest yield to maturity?
A) a 5 percent coupon bond with a price of $600 B) a 5 percent coupon bond with a price of $800 C) a 5 percent coupon bond with a price of $1,000 D) a 5 percent coupon bond with a price of $1,200
In-kind transfer programs such as Medicaid have increased more rapidly than other welfare programs over the last decade
a. True b. False
Refer to the following graph. An increase in aggregate demand when the economy is already at full employment is reflected as a rightward shift of the aggregate demand curve from
a. AD1 to AD2.
b. AD2 to AD3.
c. AD3 to AD4.
d. AD4 to AD5.