The equilibrium price under an import quota is below the price that occurs with an import ban
Indicate whether the statement is true or false
TRUE
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After the former CEO of the Coca-Cola Company began requiring employees to treat the rate of return on shareholder equity as an explicit cost, Coke's profits increased considerably
Indicate whether the statement is true or false
A transfer payment occurs when the government
a. transfers money between federal banks and state banks b. shifts income from one group of people to another c. buys goods and services d. transfers money from one group of workers to another group of workers e. buys goods to transfer them to other groups of consumers
A specific tax of $1 per unit of output will affect a firm's
A) average total cost, average variable cost, average fixed cost, and marginal cost. B) average total cost, average variable cost, and average fixed cost. C) average total cost, average variable cost, and marginal cost. D) marginal cost only.
Middlemen:
a. increase transaction costs. b. increase the price of goods, services and resources without providing any benefits. c. impede trade and hinder economic growth. d. reduce transaction costs.