The President receives economic policy advice from economists at each of the following except
a. the Council of Economic Advisors.
b. the Department of the Treasury.
c. the Congressional Budget office.
d. the Department of Labor.
c
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If the 4 largest cereal companies' total sales are $19 billion and the industry's total sales are $55 billion then according to the Four-Firm Concentration Ratio the industry is
A. an oligopoly. B. a monopoly. C. perfectly competitive. D. monopolistically competitive.
Alpha can produce either 18 tons of oranges or 9 tons of apples in a year, while Omega can produce either 16 tons of oranges or 4 tons of apples. Which of the following exchange rates between apples and oranges would allow both Alpha and Omega to gain by specialization and exchange?
a. 1 ton of oranges for 1/3 of a ton of oranges b. 1 ton of apples for 3 1/3 tons of oranges c. 1 ton of apples for 2 tons of oranges d. 1 ton of oranges for 0.4 tons of apples
A likely example of complementary goods for most people would be
a. canoes and paddles. b. snow mobiles and sofas. c. coffee and tea. d. tennis balls and basketballs.
Corporate income taxes account for about what percent of federal revenues?
A. 6 percent. B. 9 percent. C. 18 percent. D. 24 percent.