Pure public goods
a. are goods that are provided by the government
b. are economically efficient
c. are economically inefficient
d. are both nonrival and nonexcludable
e. are Pareto optimal
D
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Price discrimination occurs when
a. price exceeds marginal cost b. a firm charges different customers different prices, and the differences are not explained by cost factors c. price exceeds average cost d. a firm charges different customers different prices, where these differences are based on cost differences e. price equals average variable cost
Which of the following is NOT an important source of revenue for the federal government?
A. property taxes B. individual income taxes C. corporate income taxes D. social insurance taxes and contributions
Because of the differing account conventions, there is a great deal of arbitrariness in a number that purports to be
A. the deficit. B. the surplus. C. the debt. D. all of these answer options are correct.
The policy shown in Figure 9.7 is a
A) price floor of $50. B) price support of $50. C) price ceiling of $30. D) quota of 2000. E) quota of 4000.