Tax can fall disproportionately on certain income groups. High-income households (HH) are impacted by gasoline taxes the most.
a. true
b. false
Ans: b. false
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Assume that in the market for bottled water, the market supply is QS = 14 + 20P and the market demand is QD = 74 – 10P. This means that the equilibrium quantity is
a. 2 b. 54 c. 6 d. none of the above
What is the relationship between wants, factors of production, scarcity, and choices? Discuss the relationship for an individual and for a society
What will be an ideal response?
In the simple trade model, what is assumed about labor?
What will be an ideal response?
(Last Word) Suppose Balin has $100 to invest in an opportunity that returns, for every $100 invested, $120 if it goes well but only $80 if it goes poorly. If leverage allows Balin to borrow $90 for every $10 he invests, what are his rates of profit and
loss, respectively, if he borrows the full amount to invest in the opportunity? A. 20 percent profit; 20 percent loss. B. 33.3 percent profit; 50 percent loss. C. 200 percent profit; 100 percent loss. D. 1,100 percent profit; 100 percent loss.