Simple Fluff Pillows just learned it will be assessed a new state tax of two dollars for each pillow it produces. It will produce one million pillows this year. What will be the state tax revenue collected this year from Simple Fluff Pillows?
a. one million dollars
b. two million dollars
c. two dollars
d. half a million dollars
b. two million dollars
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A perfectly competitive firm's supply curve is the portion of the:
a. TC curve that lies above the TR curve. b. MR curve that lies above the MC curve. c. AFC curve that lies above the AR curve. d. AVC curve that lies above the ATC curve. e. MC curve that lies above the AVC curve.
Cold weather in the Midwestern and eastern United States increases the popularity of vacations in sunny California. At the same time, the hotel employees' union in California negotiates a significant pay increase for its members. The likely impact on the hotel market in California is: a. an increase in the price of hotel rooms and an increase in hotel room rentals
b. an increase in the price of hotel rooms and a decrease in hotel room rentals. c. an uncertain effect on the price of hotel rooms, but an increase in the quantity of hotel rooms rented. d. an increase in the price of hotel rooms, but an uncertain effect on the quantity of hotel rooms rented.
A fiscal policy action to close a recessionary gap is to:
A. increase government purchases. B. increase the marginal propensity to consume. C. decrease transfer payments. D. increase taxes.
Securities is a term that refers to ______.
a. bonds and stocks b. land and buildings c. coins and currency d. insurance and wages