Which of the following describes a situation where tax laws give preferential treatment to specific types of behavior?
a. tax evasion
b. a political payoff
c. a tax loophole
d. compensation for the benefit of society
c
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If the median voter voted against a project, we can infer that
A) at least half of the voters also voted against it. B) at most a third of the voters voted against the project. C) the project was approved. D) at least half of the voters voted in favor of the project.
If a firm doubles its resources and generates an output level which is more than double, it is said to be experiencing:
a. economic fluctuations. b. recession. c. diseconomies of scale. d. increasing marginal returns to a factor. e. economies of scale.
Poverty is considered to be more permanent in the United States than it is in other nations.
Answer the following statement true (T) or false (F)
A baker of bread has a long-term fixed-price contract to supply bread. Which of the following would NOT reduce her risk?
A. Hedging this risk in the wheat futures market B. Finding a wheat farmer who will take the short position in a wheat futures contract C. Taking the long position in wheat futures contract D. Finding a wheat farmer who will take the long position in a wheat futures contract