Consumers seek to
A) maximize profits.
B) maximize expected consumer surplus.
C) minimize expenditures.
D) maximize choice.
B
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A deficit-financed tax cut will ____ national savings and _____ private consumption
a. have no effect on; increase b. increase; decrease c. decrease; decrease d. decrease; increase
An extremely severe recession is known as a
A) trough. B) peak. C) contraction. D) depression.
Which of the following would be shown on IBM's accounting statement?
a. revenue, implicit costs, explicit costs, and economic profit b. revenue, implicit costs, explicit costs, and accounting profit c. revenue, explicit costs, and economic profit d. revenue, explicit costs, and accounting profit e. revenue, implicit costs, and accounting profit
Corporate profits are
a. included in payroll taxes. b. exempt from taxes. c. taxed twice, once as profit and once as dividends. d. taxed to pay for Medicare.