The cross elasticity of demand between Quaker State motor oil and Texaco motor oil is likely to be:
A. Zero
B. A positive number
C. A small negative number
D. A large negative number
B. A positive number
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What is rent seeking with respect to restricting international trade?
A) The rent on factory buildings increases if trade is restricted. B) The government avoids paying rent on buildings when importers pay the tariff. C) An attempt to capture the gains from trade by imposing a tariff D) The government's efforts to capture tariff rents E) The attempt by importers to avoid paying a tariff
If a company pays a dividend of $2 to be received one year from now, dividends are expected to grow at a rate of 3 percent per year for the indefinite future, and the interest rate is 4 percent, the price of the company's stock should be ________ per
share. A) $3.40 B) $28.57 C) $200.00 D) $340.00
A tax of $5 per airplane ticket is _____
a. a unit tax b. an ad valorem tax c. an income tax d. a value-added tax
When supply and demand both increase, equilibrium
a. price will increase. b. price will decrease. c. quantity may increase, decrease, or remain unchanged. d. price may increase, decrease, or remain unchanged.