The firm's variable cost include costs that
a. change as the price of the good changes
b. change as the firm's output changes
c. can never be changed
d. can only be changed in the long run
e. change with economies of scale and remain unchanged with diseconomies of scale
B
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The imposition of a tariff will typically ________ government revenue and ________ domestic production of the good
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) increase; not change
One reason why firms would choose a salary system rather than a commission compensation system is that their employees might become less concerned about the quality of their work
Indicate whether the statement is true or false
The inflation tax
a. transfers wealth from the government to households. b. is the increase in real income taxes due to lack of indexation in income tax rules. c. is a tax on everyone who holds money. d. All of the above are correct.
If a country has a net capital inflow, it means they have:
A. more exports than imports. B. a trade deficit. C. a trade surplus. D. more capital goods flowing into their country than out of it.