A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut
A) increase; more B) decrease; more C) increase; less D) decrease; less
C
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The Congressional Budget Office estimates that ________ of the increase in federal spending on Medicare and Medicaid over the next 75 years will be due to increases in the cost of providing health care
A) most B) very little C) all D) less than half
The above figure shows the cost curves for a typical firm in a competitive market. From the graph, estimate the firm's profits when price equals $10 per unit
What will be an ideal response?
In general, the quantity that maximizes revenue for the monopolist
A) is greater than the quantity that maximizes profit. B) is less than the quantity that maximizes profit. C) is the same as the quantity that maximizes profit. D) is illegal according to anti-trust statutes.
The Russian government wants to reduce the consumption of vodka. A one hundred rouble tax on each bottle purchased may reduce the consumption of vodka under which circumstance(s)?
A) Vodka is an inferior good. B) Vodka is a normal good. C) Vodka is an inferior good and the taxes collected from this tax are rebated to consumers. D) Vodka is a normal good and the taxes collected from this tax are rebated to consumers. E) both B and C