Refer to Figure 6-19. How much tax revenue does this tax produce for the government?
a. $24
b. $30
c. $32
d. $56
Ans: a. $24
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A nation's foreign exchange reserves consist mainly of
A) excess reserves held by its banks. B) government securities of that nation. C) the legal currency of that nation. D) currencies of other nations.
Economies of scale imply: (i) a continuously falling AC curve; (ii) a larger output is more efficient than a smaller output
a. i and ii b. i but not ii c. ii but not i d. neither i nor ii
Which of the following people would not be included among the unemployed?
A. A construction worker laid off because of a slowdown in house building. B. A young mother on welfare because her husband has left her and she must stay home to tend her children. C. A recent high school graduate who has quit his first job as a stock clerk in a grocery store in order to look for a better job. D. A recent college graduate who has not yet found a job.
Patents and copyrights were established by the government to reduce oligopoly and monopoly power.
Answer the following statement true (T) or false (F)