Which of the following is not an institution used by government to secure rights?
a. The police.
b. The military.
c. The courts.
d. The copyright office.
d
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Putting together two goods-shaving cream and razors-to increase value is using the power of
A. complementary goods. B. unrelated goods. C. substitute goods. D. technologically advanced goods.
Caterpillar, Inc deciding to expand its forklift production line and Sears deciding to open an outlet in Raleigh, North Carolina, are examples of
a. transitory decisions b. investment decisions c. saving decisions d. autonomous consumption e. permanent income
If demand is more elastic, the portion of an excise tax borne by a buyer will
a. increase. b. decrease. c. be unchanged. d. increase for normal goods, decrease for inferior goods.