Use the above table. What will the price be when external costs are internalized with a tax?
A) $14
B) $13
C) $12.20
D) $1.80
A
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Interest earned on foreign holdings of U.S. federal, state and local government debt are recorded in the
A) services account. B) merchandise account. C) transfers account. D) capital account.
If all of the divisions in a vertically integrated firm are owned by the same company, why is it possible that asymmetric information problems can lead to inefficient outcomes in vertically integrated firms?
A) Divisions that produce parts for other divisions have effective monopoly power, so the outcome for these division must be inefficient. B) This outcome is no longer possible in the U.S. after passage of the Sarbanes-Oxley law. C) Vertically integrated firms are often subject to antitrust investigations, so managers routinely limit the amount of information that flows between divisions. D) Managers in some divisions may not have information about production capacities or costs in related divisions.
Most of the federal economic policies of the 19th century were ____________________ toward big business.
Fill in the blank(s) with the appropriate word(s).
If product prices were stated in terms of tobacco leaves, then tobacco leaves would be functioning primarily as
A. a unit of account. B. fiat money. C. legal tender. D. a store of value.