A firm in a monopolistically competitive market is usually indifferent to an additional customer walking through the door, since a sale to that customer will not increase the firm's profit
a. True
b. False
Indicate whether the statement is true or false
False
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P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. 
Given the information in this decision tree, if QRS-TV announces that it will air a reality show, it can expect to:
A. lose $5 million. B. earn $20 million. C. earn $5 million. D. earn $10 million.
In 2014, which type of tax raised the most revenue for the U.S. federal government? Which type of tax raised the most revenue for state and local governments?
What will be an ideal response?
Only realized capital gains are included in taxable income.
A. True B. False C. Uncertain
Have you ever bought a good by exchanging a piano for it? Unlikely. Economists emphasize this point when they discuss the degree to which an asset can easily be used as money. They refer to the asset's
a. liquidity b. convertibility c. availability d. medium of exchange e. thriftiness