Credit card companies that operate as intermediary firms between credit card holders and business vendors are best described as
A) platforms in a shared-input market.
B) end users in a shared-input market.
C) platforms in a transaction-based market.
D) end users in a transaction-based market.
Answer: C
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Nick owns a dog whose barking annoys his neighbor Jane. Suppose that the benefit of owning the dog is worth $500 to Nick, and that Jane bears a cost of $700 from the barking. Assume that the city has no ordinance against barking dogs. A possible private solution that would benefit both parties is for: a. Jane to pay Nick $450 to get rid of the dog
b. Nick to pay Jane $650 for her inconvenience. c. Jane to pay Nick $650 to get rid of the dog. d. There is no private solution that would improve this situation for both parties.
In 2007, the government spent over $140 billion on transportation, with nearly ______ percent of this amount being spent on the highway system
a. 5 b. 10 c. 35 d. 80 e. 95
Faced with a shortage of funds to pay claims, the workman's compensation systems in many states have been forced to raise the workman's compensation tax rate substantially. The tax is paid by employers. Employers have complained that they cannot afford the tax and threaten to go out of business. Assuming the supply of labor is very inelastic, one can argue that ultimately the burden of this tax
actually will rest a. mostly on workers. b. mostly on employers. c. about 50/50 on workers and employers, like the Social Security tax. d. all on employers by statute.
In response to the climate change issue, President Obama
a. pledged to reduce the nation’s GHG emissions by 17 percent below 2005 levels by 2020 b. has vetoed all environmental bills that do not include a cap-and-trade program c. implemented a national carbon tax effective in 2012 d. committed the United States to participating in the EU ETS, starting in 2012