What determines the proportion of a unit excise tax that will be passed on to consumers in the form of higher prices?
A. the degree to which quantity demanded and supplied of the good respond to price changes
B. the nature of the projects funded by the tax
C. the popularity of the tax
D. the number of additional taxes that consumers have to pay
Answer: A
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Labor expenditures associated with carrying out an abatement process are considered to be part of
a. capital costs b. fixed costs c. operating costs d. implicit costs e. none of the above
According to the Application, the differential survival of the wealthy created an environment
A) which allowed for economic growth. B) where lower-class people could no longer afford to live in the country. C) that directly led to the demise of the British monarchy. D) which caused increased class warfare.
What leads to chronic deficits on U.S. current account?
a. declining value of the dollar and uncertainty about its future b. devaluation of the dollar c. imports being greater than exports year after year d. foreigners buying up U.S. assets in the U.S. year after year e. more exports and fewer imports year after year
Which of the following conditions would increase the likelihood of successful collusion among American automobile producers?
a. vigorous enforcement of antitrust laws b. strong quality competition that makes it difficult to monitor price cuts by rival firms c. imposition of tariffs or quotas on imported automobiles d. The market demand for automobiles fluctuates substantially.