A tax that is imposed on each unit of an imported good is known as a(n)
a. quota
b. ad valorem quota
c. implicit quota
d. tariff
e. subsidy
D
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As the stock of capital grows, there will typically be ________ depreciation
A) less B) more C) the same amount of D) no
At the equilibrium point in a perfectly competitive industry, the total surplus (the sum of the consumer surplus and producer surplus) will be at its maximum
a. True b. False Indicate whether the statement is true or false
In which of the following years was a tax cut ineffective in stimulating aggregate demand?
a. 1964 b. 1975 c. 1981 d. 1999
Suppose consumer tastes shift toward the consumption of apples. Which of the following statements is an accurate description of the impact of this event on the market for apples?
a. There is an increase in the demand for apples and an increase in the quantity supplied of apples. b. There is an increase in the demand and supply of apples. c. There is an increase in the quantity demanded of apples and in the supply for apples. d. There is an increase in the demand for apples and a decrease in the supply of apples. e. There is a decrease in the quantity demanded of apples and an increase in the supply for apples.