When the government taxes a good or service, it
A) increases consumer surplus for the good or service.
B) increases producer surplus for the good or service.
C) eliminates the deadweight loss associated with the good or service.
D) affects the market equilibrium for that good or service.
D
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The accounting system requires that the current account and the financial account sum to ________
A) 0 B) 1 C) 100 D) 10
When Acme Inc produces a certain amount of output by using the least amount of inputs, Acme Inc definitely
A) maximizes profits. B) minimizes labor costs. C) achieves technological efficiency. D) achieves economic efficiency.
Which of the following is an example of a "metering" strategy
a. A supermarket offers free parking space but charges higher for grocery b. A television reseller spends time making sure that the picture quality of the bargain priced sets is fuzzy c. Razors are sold at unit cost while razor blades have large profit margins d. All of the above
Why don't governments avoid budget deficits under all circumstances?