Taxation of agricultural land at a lower rate than commercial property might be justified _____
a. on utilitarian grounds
b. on the benefit principle
c. on the ability-to-pay principle
d. on efficiency grounds
b
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A sudden discovery of a new, massive source of uranium in New Mexico will likely cause the price of uranium to ________, which will ________ the quantity of uranium demanded by consumers
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Chandler (1994) credits IBM's dominance in the world computer market to
(a) advancements in technology. (b) investments in research and development. (c) solid management and sophisticated marketing. (d) all of the above.
Environmental destruction is peculiar to centrally planned economies
a. True b. False Indicate whether the statement is true or false
Suppose that tacos and pizza are substitutes, and that soda and pizza are complements. We would expect an increase in the price of pizza to:
A. reduce the demand for tacos and increase the demand for soda. B. reduce the demand for soda and increase the demand for tacos. C. increase the demand for both soda and tacos. D. reduce the demand for both soda and tacos.