Which of the following taxes is clearly regressive?
a. an income tax
b. a unit tax on gasoline
c. a corporate tax
d. a 25 percent tax on all income
e. a 10 percent tax on all income
B
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When ruling on a price-fixing case under the per se rule, the U.S. courts need only examine
a. market structure b. market conduct c. market performance d. market structure and conduct e. market structure, conduct, and performance
Monopoly and monopsony markets have low barriers to entry.
a. true b. false
The demand for good X is estimated to be Qxd = 10, 000 ? 4PX + 5PY + 2M + AX, where PX is the price of X, PY is the price of good Y, M is income, and AX is the amount of advertising on X. Suppose the present price of good X is $50, PY = $100, M = $25,000, and AX = 1,000 units. Based on this information, the cross-price elasticity between goods X and Y is:
A. 0.008. B. ?0.8. C. ?0.08. D. ?8.
If a certain automotive part can be purchased in Mexico for 32 pesos or in the United States for $5.25, and if the nominal exchange rate is 8 pesos per U.S. dollar, then the automotive part:
A. is more expensive in the United States. B. costs the same in Mexico and the United States. C. is more expensive in Mexico. D. is less expensive in the United States.