Which of the following is true?
A) Local governments cannot collect taxes in the U.S.
B) Only state governments can collect taxes in the U.S.
C) Only the federal government can collect taxes in the U.S.
D) The central as well as the local governments collect taxes in the U.S.
D
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Under a fixed exchange rate system, a currency devaluation ________ the nominal exchange rate and will ________ net exports
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
The five forces model is a framework
a. For increasing buyer force in the market b. For improving competition in the industry c. For analyzing the attractiveness of an industry d. Of matching resources and capabilities of the firm
Activities that indiscriminately impose costs on others are externalities
a. True b. False Indicate whether the statement is true or false
If a monopolistically competitive firm can increase its level of production and lower its average total cost of production at the same time then
a. the firm has a product-variety opportunity. b. the firm has excess capacity. c. the firm has a business-stealing opportunity. d. the firm is producing a quantity of output higher than its efficient scale of production.