An example of a Pigovian tax would be a tax on:
A. alcohol.
B. cigarettes.
C. gasoline.
D. All of these are examples.
Answer: D
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In a second-price sealed-bid auction, ________
A) bidders submit their bids privately B) bidders place their bids one after another C) bidders know each other's bid D) bidders bid above their willingness to pay
Suppose each of the following news items appears on the evening news. Which one would most likely cause consumption spending to increase?
a. "Layoffs reach record high" b. "Government to increase taxes with the start of the next quarter" c. "Stock market drops 10%" d. "Government to issue tax rebates at the end of next month" e. "Bankruptcies increase 20% over the last six months"
U.S. international trade has
a. decreased because of a decrease in the trade of goods with a high value per pound. b. decreased because of an increase in the trade of goods with a high value per pound. c. increased because of a decrease in trade of goods with a high value per pound. d. increased because of an increase in trade of goods with a high value per pound.
At the Pampered Pet Salon the marginal products of the first, second, and third workers are 50, 36, and 25 dogs washed, respectively. The total product (number of dogs washed) of the three workers is
A. 50. B. 86. C. 107. D. 111.