Being penalized via taxes for making more money in dollars even though your purchasing power hasn't changed at all is called:
A. shoe-leather costs.
B. menu costs.
C. the velocity of inflation.
D. tax distortion.
Answer: D
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Suppose an industry has total sales of $25 million per year. The two largest firms have sales of $6 million each, the third largest firm has sales of $2 million, and the fourth largest firm has sales of $1 million
The four-firm concentration ratio for this industry is A) 36 percent. B) 60 percent. C) 50 percent. D) 25 percent.
The lessons of the Japanese recovery were most successfully repeated by
a. the Soviet Union. b. Argentina and Brazil. c. Taiwan, Singapore, and Hong Kong. d. Bulgaria and Romania.
Given the total cost function TC = 2,000 + 2Q, when output is 1,000 units average total cost is ________ and total fixed cost is ________.
A. $2; $2 B. $4; $2 C. $4,000; $2,000 D. $4; $2,000
If the reserve ratio is 20 percent, then the money multiplier is approximated to be:
A. 20. B. 10. C. 5. D. 2.