A state tax assessed specifically on cigarettes is an example of
A) an excise tax.
B) a consumption tax.
C) a social tax.
D) a tariff.
A
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Refer to the figure above. If Lithasia opens up to free trade, then which of the following statements is true?
A) The domestic production of pens in Lithasia will increase. B) The domestic price of pens will increase. C) Lithasia will start exporting pens. D) Lithasia will start importing pens.
An efficient allocation of resources is reached in the figure above when output equals
A) 1 million. B) 2 million. C) 3 million. D) 4 million.
Interlocking directorates are illegal under the Clayton Act only when their effect is to lessen competition substantially
a. True b. False Indicate whether the statement is true or false
Suppose the money supply is $8 trillion and nominal GDP is $14.2 trillion. What is the velocity of money?
A. 112 B. 8.0 C. 1.8 D. We cannot compute it without knowing real GDP.