If a tax is economical,
a. its cost of collection is small relative to the revenue collected.
b. it has an economic impact on households.
c. it creates no economic distortions.
d. its revenues are used to finance productive investments.
a. its cost of collection is small relative to the revenue collected.
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With perfect price discrimination, a monopoly can extract the ________ price each customer is willing to pay and thereby obtain the entire ________ surplus
A) maximum; consumer B) minimum; producer C) maximum; producer D) minimum; consumer E) None of the above answers is correct.
In which of the following years did oil price movements contribute to holding down inflation?
A) 1986 B) 1998 C) 2001 D) All of the above.
An imposition of tax by the government for funding welfare programs raises the cost of labor to firms as:
a. the demand for labor increases. b. the demand for labor decreases. c. the supply of labor decreases. d. the supply of labor increases. e. the opportunity cost of leisure increases.
Damian wants to start a business where he is the only owner and the company does not issue stock. The type of business Damian wants to start is a
A) sole proprietorship. B) partnership. C) corporation. D) Any of the above could be correct.