The property tax is very popular because
A. it is fairly assigned.
B. it is administered locally.
C. it is very regressive.
D. all of these answer options are correct.
E. none of these answer options are correct.
E. none of these answer options are correct.
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Under perfect competition
A) information about prices is hard to obtain. B) there is a maximum number of firms that can enter the market. C) if a firm exits the market, price will rise. D) transaction costs are low.
The graphical device that illustrates the concept of scarce resources being efficiently utilized in the economy is a(n)
A. budget line. B. indifference curve. C. production possibilities frontier. D. marginal cost curve.
A fall in the real interest rate brings a
A) rightward shift of the supply of loanable funds curve. B) rightward shift of the demand for loanable funds curve. C) leftward shift of the supply of loanable funds curve. D) movement down along the supply of loanable funds curve. E) movement up along the supply of loanable funds curve.
Refer to Figure 4-3. If the market price is $3.00, what is the consumer surplus on the second ice cream cone?
A) $0 B) $0.50 C) $3.00 D) $5.50