Compared to people in other nations, people in the United States pay
a. much higher taxes.
b. somewhat higher taxes, on average.
c. about the same amount taxes.
d. lower taxes.
d
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Which of the following faces a horizontal demand curve?
a. A monopolistic firm b. An oligopolistic firm c. A perfectly competitive firm d. A monopolistically competitive firm e. A monopsonist firm
Usury laws lead to a ________________ of loanable funds.
Fill in the blank(s) with the appropriate word(s).
A monopolistically competitive firm faces a downward-sloping demand curve.
Answer the following statement true (T) or false (F)
Are the goods that businesses offer for "free" to consumers also free to society?
A. Yes, because the marginal benefit is greater than the marginal cost. B. No, because society does not assign a value to free goods. C. Yes, because the individual consumer does not have to pay for them. D. No, because scarce resources were used to produce the free goods.