An organization of sellers designed to coordinate their supply decisions to maximize joint profits is called a
a. consumer cooperative.
b. marketing association.
c. regulatory agency.
d. cartel.
D
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The Volumetric Ethanol Excise Tax Credit (VEETC) is a tax credit for registered ethanol-gasoline blenders. Qualified blenders receive $0.51 for each gallon of pure ethanol they blend into gasoline. VEETC is an example of a
A) subsidy. B) price floor. C) price ceiling. D) quota.
The provision of the Patient Protection and Affordable Care Act (ACA) which states that insurance companies are required to participate in a high-risk pool that will insure individuals with pre-existing medical conditions who have been unable to buy
health insurance for at least six months is the ________ provision. A) individual mandate B) regulation of health insurance C) state health insurance marketplaces D) employer mandate
Suppose a report on the internet indicates that job prospects for graduates are bright because full employment is achieved automatically. Economists are likely to
a. be disappointed in the degree of economic understanding possessed by the author of the report b. be excited about the earning potential of new entrants into the labor market c. be anxious about inflationary indicators d. anticipate a recession e. encourage a tax cut to stimulate the economy
The existence of differences between the average earnings of men and women
a. proves the existence of economic discrimination. b. may be partially due to factors other than economic discrimination. c. proves that men on average invest more in their human capital than women do. d. indicates that men are on average smarter than women.