Refer to the information provided in Table 23.10 below to answer the question(s) that follow. Table 23.10
Refer to Table 23.10. At an aggregate output level of $2,000 million, the unplanned inventory change is
A. -$800 million.
B. -$200 million.
C. $700 million.
D. $800 million.
Answer: B
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Suppose Motorland's government imposes a tax of $1.50 per gallon of gasoline sold. With the tax, when the market is in equilibrium, the deadweight loss is
A) zero. B) $37,500 per month. C) $150,000 per month. D) $75,000 per month.
Some corporate governance experts believe that serving on a company's board of directors for an extended length of time diminishes that member's independence from the company's CEO. If this is true, it would tend to
A) reduce the principal-agent problem. B) increase the principal-agent problem. C) have no impact on the company's performance, since the CEO is only one member of top management. D) be in the best interest of shareholders.
Which of the following would cause an upward movement along the supply curve of hamburgers?
a. A fall in the price of substitutes like pizzas b. A fall in market demand for hamburgers c. An increase in the price of beef d. An increase in the market price of hamburgers
The property tax may be regressive even though wealthy people own much more taxable property than do poor people. This possibility arises because:
A. marginal and average tax rates on property tend to converge. B. wealthy people can evade property taxes while poor people cannot. C. property taxes on rental property and business property are shifted. D. statutory property tax rates decline as the value of property rises.