Whenever a firm can charge a price greater than marginal cost
A) the firm must be a monopolist.
B) consumers have the ability to choose a close substitute.
C) there is some loss of economic efficiency.
D) the firm will earn economic profits.
C
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The net-export effect of expansionary monetary policy is a(n)
A) depreciation of the value of the dollar and the decrease of U.S. net exports. B) appreciation of the value of the dollar and the increase of U.S. net exports. C) appreciation of the value of the dollar and the decrease of U.S. net exports. D) depreciation of the value of the dollar and the increase of U.S. net exports.
Elimination of the corporate income tax would ________ government saving and probably ________ private business saving
A) increase, increase B) increase, decrease C) decrease, increase D) decrease, decrease
The food stamp program was started to _____
a. increase demand for agricultural products b. reduce poverty c. provide better nutrition for low-income individuals d. a and c
Which of the following taxes is most clearly based on the benefits-received principle of taxation?
a. corporate income tax b. gasoline tax c. personal income tax d. payroll tax e. value added tax