Externalities can be either detrimental or beneficial to others.
Answer the following statement true (T) or false (F)
True
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Soldiers in a World War II prisoner-of-war camp
A) used cigarettes as money. B) used cowrie shells as money. C) used U.S. dollars as a commodity money. D) used gold as a fiat money.
The portion of income that is not immediately spent on consumption of goods and services is:
A. savings. B. consumption spending. C. investment. D. loanable funds.
If a firm in an oligopoly is said to face a kinked demand curve, what do you know to be true about the kink?
a. It represents the maximum price and profit. b. It occurs at the only output level where the firm suffers loss. c. It occurs where marginal revenue is zero. d. It is not a characteristic of an oligopoly. e. It occurs at the current price.
The marginal tax rate on labor income for many workers in the United States is almost
a. 30 percent. b. 40 percent. c. 50 percent. d. 65 percent.