Consider the market for purple magic markers. The demand for purple magic markers is perfectly elastic and the supply curve is upward sloping
If sellers of purple magic markers are taxed $1 per marker, how will the tax be divided between the buyer and seller? A) The sellers will pay the entire tax.
B) The buyers will pay the entire tax.
C) The tax will be evenly divided between the sellers and buyers.
D) More information is needed to determine how the tax is split.
A
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In the table above, if Brent maximizes his utility by consuming 3 bags of popcorn and 3 bottles of soda, then the ratio of the price of popcorn to the price of soda is expected to be
A) 1/2. B) 5/6. C) 6/5. D) 2.
Under the Patient Protection and Affordable Care Act (ACA), individuals who do not have health insurance will be subject to a fine
Indicate whether the statement is true or false
The people who support restricted international trade say that ______
A. protection saves jobs, in both the U.S. and foreign economies B. U.S. firms won't be able to compete with low-wage foreign labor if trade is free C. outsourcing sends jobs abroad, which brings diversification and makes our economy more stable D. protection is needed to enable U.S. firms to produce the things at which they have a comparative advantage
"Americans hate broccoli." "Because so few Americans like broccoli, average broccoli sales are lower in America then anywhere else." Which of these two statements about the preferences of Americans is more accurate? Why?
What will be an ideal response?