A sales tax is a tax on the:
A. earnings of individuals and corporations.
B. income earned by buying investments and selling them at a higher price.
C. wages paid to an employee.
D. value of a good or service being purchased.
D. value of a good or service being purchased.
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The expenditure approach to measuring U.S. GDP equals _________
A. the sum of U.S. consumption expenditure and U.S. investment B. U.S. government expenditure minus taxes paid by Americans C. all expenditure on final goods and services produced in the United States in a given time period D. all expenditure by Americans on goods and services produced in the United States in a given time period
Parity pricing and target pricing differ in that
a. consumers pay a higher than equilibrium price under parity pricing and a lower than equilibrium price under target pricing b. consumers pay a higher than equilibrium price under target pricing and a lower than equilibrium price under parity pricing c. parity pricing generates an excess supply of farm goods while target pricing generates an excess demand d. parity pricing generates an excess demand for farm goods while target pricing generates an excess supply e. under parity pricing, consumer demand determines price while under target pricing, market supply determines the price
The difference between scarcity and a shortage is
A) scarcity is caused by poverty and shortages are caused by natural disasters. B) shortages are a type of scarcity caused by natural disasters while scarcity is caused by human errors. C) scarcity always is a part of human life while shortages usually are temporary. D) shortages are always part of human life while scarcity is usually temporary.
In Eugene, Oregon, there are several Italian restaurants, each offering slightly different items prepared in slightly different ways. It is likely that an Italian restaurant in Eugene, Oregon, operates in a(n):
A. perfectly competitive market. B. monopolistically competitive market. C. monopoly market. D. oligopoly market.