What is one reason it might be difficult to dissuade people from pirating music off the Internet?
A) Consumer surplus is very high when music is pirated.
B) In general, consumers get a rush from "stealing."
C) Consumers mistakenly believe that the Internet is public domain.
D) Producer surplus is very low when music is pirated.
A
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The Acme Stereo Company had a capital stock of $24 million at the beginning of the year. At the end of the year, the firm had a capital stock of $20 million. Thus its
A) net investment was some amount but we need more information to determine the amount. B) net investment was $4 million for the year. C) gross investment was zero. D) net investment was -$4 million for the year.
In the United States, sole proprietorship profits are taxed at the business level and then are taxed again as personal income in the form of dividend payments
Indicate whether the statement is true or false
For a given decrease in demand, the effect on price is smallest and the effect on quantity exchanged largest when: a. supply is perfectly elastic
b. supply is elastic. c. supply is unit elastic. d. supply is perfectly inelastic.
In an economy, the value of inventories was $75 billion in 2009 and $63 billion in 2010. In calculating total investment for 2010, national income accountants would:
A. Decrease it by $75 billion B. Increase it by $63 billion C. Decrease it by $12 billion D. Increase it by $138 billion