According to this Application, many economists believe that the increase in "globalization" in the last 30 years has ________ the ability of countries to levy taxes at rates that differ substantially from other countries
A) limited B) slightly increased C) greatly increased D) eliminated
A
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Cross elasticity of demand for
A. substitutes will normally be positive. B. complements will normally be positive. C. substitutes will normally be negative. D. complements will normally be infinite.
The existence of network externalities implies that: a. the value of a network falls as the number of members rises. b. the opportunity cost of switching networks is higher for larger networks. c. smaller networks are more successful than larger ones
d. newer networks are more likely to become locked in. e. only the most efficient and superior technology prevails in the market.
A perfectly competitive firm's marginal revenue
A) is greater than its price. B) is less than price because a firm must lower its price to sell more. C) is equal to its price. D) may be either greater or less than its price, depending on the quantity sold.
Households receive bonds when they
A. purchase a share of ownership in firms. B. sell shares of a firm's stock. C. borrow money from financial institutions. D. lend money directly to firms.