In an inflationary environment, then over time
A) a specific tariff will tend to raise more revenue than an ad valorem tariff.
B) an ad valorem tariff will tend to raise more revenue than a specific tariff.
C) an optimum tariff will tend to raise more revenue than an escalating tariff.
D) a tariff quota will tend to raise more revenue than a specific tariff.
E) an import quota would raise more revenue than a specific tariff.
B
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In the above figure, if a subsidy is granted that generates an efficient allocation of resources, then the output level will be
A) zero. B) 50 units per week. C) 150 units per week. D) 250 units per week.
In a coin toss bet, where both heads and tails are equally likely, you win a $3 on heads but lose $1 on tails. The expected value of the bet is
a. $0.50 b. -$0.50 c. $1.00 d. $0.00
Most economists prefer regulation to taxation because regulation corrects market inefficiencies at a lower cost than taxation does
a. True b. False Indicate whether the statement is true or false
Which of the following is NOT part of the "four-legged stool" of retirement income?
A. Individual savings B. Employer retirement plans C. Social Security D. Full-time work