Which of the following would not be considered an indirect tax?
a. A value-added tax
b. A tax on wheat export
c. A tax on imported automobiles
d. A tax on the income of a computer manufacturer
e. A sales tax on cigarettes
d
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Stuck in Cleveland You purchased a roundtrip ticket to a friend's wedding in Cleveland on Saturday for $400, but on Sunday you discover your return flight is canceled due to weather. The airline will not be able to get you back home until late Monday but Greyhound has an overnight bus route that arrives at 6:00am Monday for $60 . What is the opportunity cost of missing work on Monday?
According to purchasing-power parity, inflation in the U.S. causes the dollar to
a. depreciate relative to all other currencies. b. depreciate relative to currencies of countries that have lower inflation rates. c. appreciate relative to all other countries. d. appreciate relative to currencies of countries that have lower inflation rates.
If interest rates rose more in Japan than in the U.S., then other things the same
a. U.S. citizens would buy more Japanese bonds and Japanese citizens would buy more U.S. bonds. b. U.S. citizens would buy more Japanese bonds and Japanese citizens would buy fewer U.S. bonds. c. U.S. citizens would buy fewer Japanese bonds and Japanese citizens would buy more U.S. bonds. d. U.S. citizens would buy fewer Japanese bonds and Japanese citizens would buy fewer U.S. bonds.
According to ________, trade between two countries allows each of the trading countries to allocate its resources most efficiently.
A. the General Agreement on Tariffs and Trade B. the theory of absolute advantage C. the Heckscher-Ohlin theorem D. the theory of comparative advantage