State and local property taxes are regressive
a. True
b. False
Indicate whether the statement is true or false
True
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Exhibit 3A-1 Comparison of Market Efficiency and Deadweight Loss
As shown in Exhibit 3A-1, if the market is in equilibrium, then ____ represents total surplus.
A. ABEFD B. ABEC C. EFG D. BEF
Health Care is not like other goods and services because
A. people do not have to pay for it. B. if a newly discovered cure costs a lot, we say, incorrectly, that its price has risen. C. there is no motive to consume more than is economically efficient. D. we tend to like to go to the doctor and do it for enjoyment, whereas we hate going to the dentist.
Over a period of time, the equilibrium price of a good increases and the quantity decreases. All of the following could account for this situation, except:
A. An increase in the costs of production B. The removal of a subsidy on the good or service C. The imposition of a sales tax on the good or service D. A decrease in the price of an alternative good or service that producers could also produce
As financial intermediaries, how do commercial banks pay their expenses and earn profit?
a. Banks pay depositors a higher interest rate than they charge borrowers b. Banks pay depositors a lower interest rate than they charge borrowers. c. Banks earn interest from their deposits at the Federal Reserve. d. Banks invest funds from stockholders in the stock and bond markets.