The Laffer curve expresses a relationship between:
a. tax rates and tax revenues.
b. inflation and unemployment.
c. interest rates and saving.
d. money supply and the price level.
a. tax rates and tax revenues.
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Pepsi uses advertising to create the impression that Pepsi is superior to any other soft drink. Pepsi is attempting to:
A. differentiate Pepsi from other types of soft drinks. B. lower the marginal cost of producing for Pepsi. C. sell less Pepsi so they can raise the price of Pepsi. D. convince consumers that Pepsi is identical to other soft drinks.
A minimum wage set above the equilibrium wage rate has no effect
Indicate whether the statement is true or false
A few U.S. commercial banks are allowed to have "section 20 affiliates" that can
A) underwrite corporate debt and equity. B) operate in foreign markets. C) branch nationwide regardless of state laws. D) own majority shares in other banks.
If the price elasticity of supply for a window manufacturer is 1.5,
a. a 10% increase in the price of windows results in a 15% increase in the quantity of windows supplied. b. supply is considered to be inelastic. c. the manufacturer is likely operating very near capacity. d. All of the above are correct.