If the government removes a binding price floor from a market, then the price paid by buyers will
a. increase, and the quantity sold in the market will increase.
b. increase, and the quantity sold in the market will decrease.
c. decrease, and the quantity sold in the market will increase.
d. decrease, and the quantity sold in the market will decrease.
c
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Which of the following is the largest source of revenue for the federal government?
a. corporate income tax b. payroll tax c. personal income tax d. user charges
The government borrows by selling bonds. The DEBT
What will be an ideal response?
Within a country, the domestic price of a product will equal the world price if
a. trade restrictions are imposed on the product. b. the country allows free trade. c. the country chooses to import, but not export, the product. d. the country chooses to export, but not import, the product.
Factor demand is based on
A. marginal productivity theory. B. the law of supply. C. game theory. D. the principle of economies of scale.