Taxes are the only mechanism by which the federal government earns money.
Answer the following statement true (T) or false (F)
False
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An annual income statement from Quest Realty, Inc. is shown below:
During this year of operation, Quest Realty owned and occupied an office building in downtown Indianapolis. For this year, the building could have been leased to other businesses for $2,000,000 in lease income. Quest Realty also owned undeveloped land valued at $15,000,000. Owners of Quest Realty can earn a 14% rate of return annually on funds invested elsewhere.Quest's accounting profit is
A. -$4,100,000 B. $38,200,000 C. $9,360,000 D. $42,300,000 E. none of the above
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.
Other things equal, in which of the following cases would economic profit be the greatest?
A. A regulated monopolist charging a price equal to average total cost. B. A regulated monopolist charging a price equal to marginal cost. C. An unregulated monopolist who is able to engage in price discrimination. D. An unregulated, nondiscriminating monopolist.
Approximately how many slaves were brought from Africa to the New World during the operation of the transatlantic slave trade?
a. 50,000 b. 700,000 c. 5 million d. 10 million