One reason governments impose taxes is to:
A. raise government revenues.
B. increase consumer spending.
C. spur economic growth.
D. encourage more production.
A. raise government revenues.
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In an oligopoly with differentiated products, firms ________
A) make positive economic profits B) incur losses C) earn zero economic profits D) do not face competition from its rivals
Economic theory assumes people will not do what is in the interest of all unless it is in the interest of
A) each. B) humanity. C) the government. D) the public. E) their own pocketbooks.
If monetary and fiscal policy are going to promote economic stability, they must _________ during a recession, and _________ during an economic boom. (Fill in the blank)
a. add stimulus; apply restraint b. apply restraint; add stimulus c. add stimulus; add stimulus d. apply restraint; apply restraint
In the market for pollution permits, the demand for permits comes from:
A. firms that would prefer to use permits rather than incur abatement costs. B. the Chicago Board of Trade. C. firms with low abatement costs. D. the Environmental Protection Agency.