Using the above table, a unit tax of $2 is imposed on the product. How much of the tax is paid by the producer?
A) $2
B) $1
C) $3
D) unable to determine
B
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An independent variable:
A) cannot be measured. B) cannot be represented on a bar chart. C) is manipulated by the experimenter in an experiment. D) in an experiment is determined by the other variables.
A market with a negative externality
a. will be regulated by the government b. is an example of a natural monopoly c. will be Pareto efficient, as long as bargaining costs are high enough d. will produce less than the efficient quantity, thereby creating a welfare loss e. will produce more than the efficient quantity, thereby creating a welfare loss
In an unbalanced oligopoly,
a. one firm has significantly greater market power than any other in the industry b. only one firm exists in the industry c. the industry is rapidly converging into a monopolistically competitive industry d. all firms have near-equal market share e. the four-firm concentration ratio exceeds 100 percent
In 2009, nominal GDP was $14,050 billion and M1 was $1,587 billion. Velocity was
A. 0.11. B. 8.85. C. 11.30. D. 14.25.