Of the three primary tax sources of revenue for the U.S. federal government, which of the following has displayed no long-term trend as a percentage of GDP since 1962?
A) corporate income taxes
B) social insurance taxes
C) sales and excise taxes
D) individual income taxes
D
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What are a marginal cost pricing rule and an average cost pricing rule? What are the disadvantages and advantages of each?
What will be an ideal response?
Which of the following contracts contain vertical restrictions that limit the transacting parties' choices but create economic value?
a. An agreement between firms to jointly invest in research and development. b. A franchise contract specifying exclusive territory of operation. c. A contract amongst competitive firms on an uniform pricing strategy. d. A collusion between two oligopoly firms specifying individual production.
The economy of Mainland uses gold as its money. If the government discovers a large reserve of gold on their land
a. the supply of money decreases and the value of money rises. b. the supply of money increases and the value of money falls. c. the demand for money increases and the value of money rises. d. the demand for money decreases and the value of money falls.
As one moves southeast on a downward sloping demand curve
A. demand becomes more inelastic. B. elasticity stays the same. C. demand becomes more elastic. D. one cannot tell what happens to elasticity unless the demand curve is linear.