If a U.S. firm purchases a foreign firm that violated the Foreign Corrupt Practice Act (FCPA), the U.S. firm ________ responsible for the foreign firm's actions under Part ________ of the FCPA.
A) is; III B) is not; II C) is not; III D) is; II
A) is; III
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Suppose there are 1000 identical wheat farmers. For each, TC = 10 + q2. Market demand is Q = 600,000 – 100p. Derive the short-run equilibrium Q, q, and p. Does the typical firm earn a short-run profit?
What will be an ideal response?
Suppose the demand curve for movie tickets has unitary price elasticity and the supply curve is perfectly price elastic
If 3 million tickets are currently sold at a price of $5, approximately how much tax revenue could the government generate from a $1 specific tax? A) $18 million B) $3 million C) $2.5 million D) $1.5 million
To separate the income and substitute effects, the imaginary budget line should be
A) tangent to the new indifference curve and parallel to the new budget line. B) tangent to the new indifference curve and parallel to the old budget line. C) tangent to the old indifference curve and parallel to the new budget line. D) tangent to the old indifference curve and parallel to the old budget line.
According to the text, economics offers the business person
A) a substitute for the accounting department. B) a substitute for the marketing department. C) a way to forecast demand. D) an approach to thinking. E) a replacement for the personnel department.