In which of the following markets are we most likely to find a monopoly?
a. Automobile production.
b. Air travel.
c. First-class mail delivery.
d. Clothing production.
C
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The supply-side economists expect that a cut in the marginal income tax rate, with lost revenues made up by a cut in government spending, would
a. increase output. b. decrease output. c. leave output unchanged. d. affect output but the direction of the effect is uncertain.
If the firm is maximizing profits or minimizing losses, it is producing _____ units of output and charging a price of ______.
A. 40; $10.00
B. 40; $18.00
C. 50; $13.00
D. 55; $14.00
If the reserve ratio is designated by "r," how much of a deposit can banks lend out?
A. 1 / r B. (1 - r) C. 1 / (1 - r) D. r / (1 - r)
Refer to Figure 34.3. The implied marginal tax rate is
A. 100 percent. B. 0 percent. C. Greater than 100 percent. D. 50 percent.