How do taxation and user charges compare as government revenue sources?
A) Each generates about the same amount of government revenue.
B) Revenues from taxation are much greater than revenues from user charges.
C) User charges generate much more revenue than do taxes.
D) We don't know because the government does not publish revenue figures broken down.
Answer: B
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Prices for industrial commodities such as steel rods or machine tools are
A) heavy prices. B) custom prices. C) auction prices. D) sticky prices.
In the game in Scenario 13.17, Incumbent Monopoly has
A) an incentive to threaten accommodation, which would be credible. B) an incentive to threaten war, which would be credible. C) an incentive to threaten accommodation, which wouldn't be credible. D) an incentive to threaten war, which wouldn't be credible. E) no incentive to make a threat.
Your total utility for 5 milk shakes would be
Demand and Utility Table for Milk Shakes
A. $2.
B. $4.
C. $7.50.
D. $15.
There is an increase in availability of alternative fuels through research and development. Which of the following correctly captures the effect of this change on the market for gasoline?
A. Equilibrium quantity will increase, but equilibrium price will decrease. B. Both equilibrium quantity and price will increase. C. Both equilibrium quantity and price will decrease. D. Equilibrium quantity will decrease, but equilibrium price will increase.