The horizontal intercept of the budget line is:
A. M/PY.
B. -PX/PY.
C. M/PX.
D. PYY.
Answer: C
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Based on the information in Scenario 15.7, if you expect the price to be $21 next year, you should
A) keep the wine in barrels until next year no matter what the interest rate. B) keep the wine if interest rates are above 5%. C) keep the wine if interest rates are below 5%. D) sell the wine now. E) do nothing until you know what the interest rate is going to be for the following year.
If the union and management cannot come to terms on a labor contract, one legal weapon the union can employ to put pressure on management is to
a. engage in industrial sabotage b. strike c. reveal the firm's trade secrets d. spread false rumors about the financial health of the firm e. engage in collective bargaining
The structural deficit can be used to estimate the thrust of current fiscal policy.
Answer the following statement true (T) or false (F)
Taxes levied on goods and services transported across political boundaries are referred to as:
A) service taxes. B) tariffs. C) value added taxes. D) transport taxes.