A graph's origin is the point of intersection of all lines or curves in the graph
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is a government-inhibited good?
A) a lighthouse B) national defense C) public education D) cocaine
Which of the following best illustrates the double coincidence of wants? a. Both Tom and Jerry would like to purchase the same good
b. Tom has something he's willing to trade with Jerry; Jerry has something he's not willing to trade with Tom. c. Tom and Jerry have very similar tastes; hence, Tom's wants coincide with Jerry's. d. Tom has something he's willing to trade with Jerry, who wants it; Jerry has something he's willing to trade with Tom, who wants it. e. Tom has something Jerry wants; Jerry has nothing Tom wants.
A dairy buys $50,000 worth of milk and spend $5,000 on cartons and utilities. It sells the cartons of milk to a grocery store for $60,000 that then sells all of the cartons to consumers for $65,000 . How much do these actions add to GDP?
a. $55,000 b. $65,000 c. $120,000 d. None of the above are correct.
If each taxpayer paid the same lump-sum amount regardless of income level, the tax system would be:
A. regressive. B. progressive. C. disproportionate. D. proportional.