If a taxpayer itemizes deductions, then an exemption is worth the same as a deduction
a. True b. False
a
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Are the short-run average total cost curve and the long-run average cost both U-shaped for the same reasons? If so, carefully explain these reasons. If not, explain why each curve is U-shaped
What will be an ideal response?
What three factors regarding differences in interest rates on similar bonds can prevent the interest parity condition from holding?
What will be an ideal response?
When the price of corn was "low," consumers in the United States spent a total of $8 billion annually on its consumption. When the price halved, consumer expenditures actually DECREASED to $6 billion annually. This indicates that:
A. the demand for corn is elastic. B. the demand for corn is inelastic. C. corn is a Giffen good. D. the demand curve for corn is upward sloping.
According to the text, approximately how many countries are members of the WTO?
A) 100 B) 135 C) 160 D) 180