Which of the following hinders economic freedom?
a. Lower taxes
b. Regulations on emissions from automobiles
c. International trade
d. Secure private property rights
e. A democratic government
b
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Tax revenues are transferred from
A) state governments to the federal government. B) local governments to state and federal governments. C) one state government to other state governments. D) the federal government to state and local governments. E) the state and local governments to the federal government.
Can both producer surplus and consumer surplus exist at the same time in a particular market?
What will be an ideal response?
Banks can lower the cost of information production by applying one information resource to many different services. This process is called
A) economies of scale. B) asset transformation. C) economies of scope. D) asymmetric information.
Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $9. What does profit equal when quantity equals 3?
A) $13 B) $10 C) $6 D) $2