According to the permanent income hypothesis, a one-time tax rebate will generally have a considerable impact on consumption.
Answer the following statement true (T) or false (F)
False
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Today, about one out of four legal immigrants arrives in the U.S with experience in a professional occupation
Indicate whether the statement is true or false
MNO Limited publishes a magazine targeted at urban professionals who live on the east and west coasts of the U.S., and all of the magazines are printed at a marginal cost of $0.50 per copy at a publishing plant in Kansas
If the East Coast elasticity of demand for the magazine is -1.25 and the West Coast elasticity of demand is -1.50, what prices should MNO Limited charge for the magazines in these two markets in order to maximize profits? A) Price should be $0.50 in both markets B) Price should be $2.50 on the West Coast and $1.50 on the East Coast C) Price should be $1.50 on the West Coast and $2.50 on the East Coast D) Price should be $0.40 on the West Coast and $0.33 on the East Coast
The "voluntary bumping plan" used by airlines to resolve the problem of overbooked flights was developed by economist
A) Adam Smith. B) John Maynard Keynes. C) Alan Greenspan. D) Julian Simon.
Exhibit 9-2 A monopolistic competitive firm
?
To maximize long-run profits, the monopolistically competitive firm shown in Exhibit 9-2 will charge a price per unit of:
A. zero. B. $5. C. $10. D. $15.