Graphically, the effects of an external cost can be shown as
A) a leftward shift of the market demand curve.
B) a leftward shift of the market supply curve.
C) a downward movement along the market demand curve.
D) a rightward shift of the market supply curve.
B
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Of the following, the largest source of tax revenue collected by state and local governments comes from
A) individual income taxes. B) lottery revenues. C) corporate income taxes. D) death taxes. E) sales taxes.
The coupon rate is the
A) annual coupon payment divided by the face value of the bond. B) annual coupon payment divided by the market value of the bond. C) difference between the face value of the bond and its par value. D) coupon paid every 6 months divided by par value.
A monopolistically competitive firm chooses its
a. price and quantity just as a monopoly does. b. quantity but faces a horizontal demand curve just as a competitive firm does. c. price but can sell any quantity at the market price just as an oligopoly does. d. price and quantity based on the decisions of the other firms in the industry just as an oligopoly does.
Which of the following is an example of a nation with a traditional economy?
a. the national government has mandated that 100,000,000 tons of butter be produced each year b. techniques used for growing wheat have been unchanged for centuries c. due to high fuel prices, many fuel-efficient cars are being produced d. economic authorities have ordered industry to produce tanks and heavy weaponry instead of food