To calculate tax revenue:
A. divide total revenues by the tax per unit.
B. multiply total revenues by the tax per unit.
C. multiply the tax per unit by the number of units of the item being taxed.
D. multiply the tax per unit by the price of the unit being taxed.
C. multiply the tax per unit by the number of units of the item being taxed.
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Refer to the figure above. Calculate the revenue earned by the government when it imposes a tariff of $1 on chairs
A) $10 B) $20 C) $30 D) $40
When money demand increases, the Fed cannot keep both the money supply from rising and the interest rate from rising
a. True b. False Indicate whether the statement is true or false
Which of the following is the best definition of money?
a. Anything generally accepted as payment for goods or repayment of debt b. Anything that can be converted to a liquid asset c. A national currency that is backed by gold or other precious metals d. Paper or coin currency that is produced by the Federal Reserve
Structural unemployment is the
A. portion of unemployment that is due to changes in the structure of the economy that result in a significant loss of jobs in certain industries. B. unemployment that occurs during recessions and depressions. C. unemployment that results when people become discouraged about their chances of finding a job so they stop looking for work. D. portion of unemployment that is due to the normal working of the labor market.