The millions of taxpayers who must pay for a federal government bail-out of the financial giant AIG will not be well represented at the hearings on the issue, because
What will be an ideal response?
no single taxpayer has a large enough stake in the issue to justify the cost of attending the hearings.
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Suppose all firms in the market have the same costs as illustrated above. Of the following, which is the most likely action for a manager of the firms to take?
A) Increase the price of their grain.
B) Shut down.
C) Advertise their product.
D) Attempt to keep other firms from entering the market.
A price floor is a price set below equilibrium by government and it creates a shortage
a. True b. False Indicate whether the statement is true or false
The Laffer curve shows as tax rates rise, tax revenue:
a. rises. b. first rises, then falls, and then rises again. c. falls. d. first rises, and then falls. e. remains at a constant level.
The fair trade movement:
A. attempts to inform and influence consumers' choices. B. is designed to stop unfair trade practices. C. is a set of laws around production processes in other nations. D. a big hindrance to international trade.