Which of the following will result in the greatest deadweight loss from tax?
a. A tax on gasoline
b. A tax on Porsche cars
c. A tax on salt
d. A tax on cigarettes
b
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The above figure shows the market for blouses. The government decides to impose the sales tax on sellers, as shown in the figure. The tax decreases consumption by
A) 1,000 blouses. B) 2,000 blouses. C) 3,000 blouses. D) 4,000 blouses.
Most of the empirical research on long-run costs suggests that the long-run average cost curve for most firms has a very pronounced U-shape
Indicate whether the statement is true or false
Which of the following statements about real GDP per capita is correct?
A. Real GDP per capita is inversely related to quality of life measures such as productivity and life expectancy. B. Real GDP per capita is more accurately recorded in IACs than in LDCs. C. Countries with higher real GDP per capita have lower per capita energy consumption. D. Real GDP per capita in the United States is about seven times larger than in Ethiopia.
The Fed’s founders viewed the Fed as a means of maintaining the money supply during economic contractions and as a lender of last resort.
Answer the following statement true (T) or false (F)