Another name for a "flat-rate tax" in which the same tax rate applies to all income earners is a
A. proportional tax.
B. regressive tax.
C. passive tax.
D. progressive tax.
Answer: A
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If depreciation exceeds gross investment, net investment is negative
Indicate whether the statement is true or false
If one firm in a perfectly competitive industry is somehow able to produce at a lower cost than competing firms in the short run,
a. the competing firms will adopt similar production techniques in the long run. b. the more efficient firm will earn higher profits than the competing firms in the long run. c. the competing firms will earn higher profits than the more efficient firm in the short run. d. the competing firms will go out of business in the long run.
The consumer price index (CPI) increased at a slower rate during the period 1990-2004 than the import price index
Indicate whether the statement is true or false
__________is the amount of a product that is offered for sale at all possible prices that could prevail in a market.
Fill in the blank(s) with the appropriate word(s).