Sale taxes are
A. easy to administer at lower rates.
B. correctives for externalities.
C. substitutes for user fees.
D. all of these answer options are correct.
D. all of these answer options are correct.
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How does the United States compare to other advanced, industrialized economies on the issue of openness?
A. The U.S. economy is completely closed. B. The U.S. economy is at the low end of openness. C. The U.S. economy is above average in openness. D. The U.S. economy is among the most open. E. The U.S. economy is the most open of any economy.
The division of the burden of a tax between buyers and sellers in a market is called tax allocation
Indicate whether the statement is true or false
A pure monopoly
a. is the only firm that produces all of the products its competitors produce b. is the single seller of a unique product c. is bigger than all its competitors combined d. has only one customer e. is always profitable in the short run
ABC Co. produces only gadgets, and XYZ Co. produces both gadgets and widgets. If ABC Co. produces gadgets at the same average total cost as XYZ Co., economies of:
A. scope are not present in XYZ. B. scope are present in ABC. C. scale are not present in XYZ. D. scale are present in ABC.