To know whether a particular situation for a family, business, or government involves an equilibrium or not, one must
A) understand the circumstances fully.
B) determine whether the accounts are in balance.
C) determine whether the credits equal the debits.
D) determine whether a particular portion of the accounts are in balance or not.
A
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The main difference between direct and indirect taxes is that
A. indirect taxes are automatically deducted from workers’ paychecks and direct taxes are not. B. direct taxes are paid to state and local governments and indirect taxes are paid to the federal government. C. direct taxes are taxes levied on people and indirect taxes are taxes levied on activities undertaken by people. D. direct taxes are usually proportional and indirect taxes are usually progressive.
Recall the Application about the manufacture of fake killer whales used to scare sea lions off the Washington coast to answer the following question(s).Recall the Application. The mold used to produce the fake killer whales is an indivisible input.
Answer the following statement true (T) or false (F)
Which of the following combinations would constitute a vertical merger?
A. Samsung Electronics and Ford Motor Company B. General Motors and Bridgestone Tire Company C. Dell and Apple computer companies D. Yahoo! and Google Internet search engine companies
If a firm charges a price equal to the marginal cost-the competitive solution-then the gains from trade are
A. all in the form of producer surplus. B. all in the form of consumer surplus. C. split between producer and consumer surplus. D. split between shareholders and producers.