The smallest contributor to total federal tax revenues in 2014 was the:
a. personal income tax.
b. corporate income tax.
c. excise tax
d. payroll tax.
c
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The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If the number of DVD produced is cut to 2 a week, then the ________
A) minimum supply-price of the second DVD is $18 B) price is $18 a DVD C) opportunity cost of the second DVD is $22 D) value of the second DVD is $20
Government expenditures are considered autonomous in the model meaning that changes are the result of:
A) changes in real income. B) changes in inflation. C) changes in unemployment. D) changes in policy decisions.
Physicians who accept assignment on their Medicare patients
a. bill patients for 80 percent of the allowable fee. b. agree to forego balance billing. c. accept the allowable fee for all services. d. agree to charge private insurance patients the same fees as Medicare patients. e. Both b and c.
Assuming compact discs and cassettes are substitute goods, a decrease in the price of cassettes will cause the demand curve for compact discs to:
a. shift to the left as consumers switch from buying discs to cassettes. b. shift to the right as consumers switch from buying discs to cassettes. c. shift to the left as producers increase cassette production and reduce disc production. d. remain unchanged since discs and cassettes are sold in separate markets.