At the federal level, the single most important tax, accounting for slightly less than half of revenue, is the:
A. corporate income tax.
B. personal income tax.
C. sales tax.
D. property tax.
Answer: B
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On any given day, a salesman can earn $0 with a 30% probability, $100 with a 20% probability, or $300 with a 50% probability. His expected earnings equal
A) $0. B) $100. C) $150. D) $170.
Suppose a monopoly's inverse demand curve is P = 100 -Q, it produces a product with a constant marginal cost of 20, and it has no fixed costs
Compared to the consumer surplus if the market were perfectly competitive, consumer surplus is how much less when the monopolist practices perfect price discrimination? A) 3200 B) 1600 C) 800 D) 0
________: specific form of current production costs that do not vary with the level of output or input use
Fill in the blank(s) with correct word
The "rational terrorist" is one that
A. devotes scarce resources to achieving a goal. B. weighs the costs and benefits of a goal. C. has a political goal. D. does all of the above.