Municipal bonds are usually purchased by:
A. investors looking for securities to buy for their IRA accounts.
B. investors who live in cities with high municipal tax rates.
C. investors who are in high marginal tax brackets.
D. retired investors who have no other taxable income.
Answer: C
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If the real interest rate is lower than the equilibrium real interest rate:
A) the quantity of credit demanded equals the quantity of credit supplied. B) the quantity of credit demanded falls short of the quantity of credit supplied. C) the quantity of credit supplied falls short of the quantity of credit demanded. D) interest rates tend to fall further.
The largest source of the federal tax revenue is ________
A) individual income taxes B) corporate income taxes C) excise taxes D) payroll taxes
A natural monopoly regulated with an average cost pricing rule is ________
A) efficient and incurs an economic loss B) inefficient and makes zero economic profit C) inefficient and makes an economic profit D) efficient and makes zero economic profit
Economic profit can be calculated as
A) total revenue - explicit costs. B) total revenue - implicit costs. C) total revenue - explicit costs - implicit costs. D) total revenue - fixed costs.