The revenue earned by the government in allocating quota licenses through resource-using application procedures is approximately equal to the revenue it would earn from a tariff that resulted in the same import quantity.
Answer the following statement true (T) or false (F)
False
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A tax structure is called progressive when
A. the average tax rate on low-income groups exceeds the tax rate of high-income groups. B. the average tax rate decreases if income decreases. C. the average tax rate is constant, but the absolute amount of taxes paid increases with income increases. D. high-income groups pay more taxes absolutely than do low-income groups.
Suppose that you consume only pizza, which costs $4 per slice, and Diet Pepsi, which costs $2 each. The table above gives your utility from consuming these two goods
If your income is $14, which of the following consumption combinations will you choose? A) 3 slices of pizza and 1 Diet Pepsi B) 2 slices of pizza and 3 Diet Pepsis C) 1 slice of pizza and 5 Diet Pepsis D) 0 slices of pizza and 7 Diet Pepsis
The Clayton Act:
A) was passed in 1985 over the objections of then President Reagan. B) outlaws racial discrimination in the practice of business. C) outlaws the ownership of stock by the U.S. government unless it is in public enterprises. D) outlaws price discrimination unless based on cost differences.
Which of the following factors might make capital mobility less than perfect?
a. Risks due to exchange rate changes b. Differential risk on the assets of different countries c. Technological progress, which improves the quality of information on foreign assets d. both a and b. e. All of the above