Severance taxes are collected on _____
a. estates
b. unemployment insurance
c. the extraction of natural resources
d. large employee bonuses
c
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Assume the demand function for good X can be written as Qd = 80 - 3Px + 2Py + 10I where Px = the price of X, Py = the price of good Y, and I = Consumer income. This equation implies that X and Y are substitutes
Indicate whether the statement is true or false
An efficient clinic
A. will have higher costs than other clinics with similar quality of care. B. will have lower quality than other clinics with similar costs. C. will have higher margins than an inefficient competitor. D. will produce substandard care.
Refer to the given figure.
If the Federal Reserve wants to raise the interest rate to 7 percent, it must ________ the money supply to ________.
A. increase; 300 B. increase; 900 C. increase; 700 D. decrease; 300
Producers of close substitutes have little or no incentive to merge.
Answer the following statement true (T) or false (F)