The sum of public spending on goods and services and transfer payments during a given period cannot exceed tax revenues plus borrowed funds. This is the statement for
A. the government budget constraint.
B. ad valorem taxation.
C. an excise tax.
D. a sales tax.
Answer: A
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Southwest Airlines relies on jet fuel to operate its planes. If it chooses to hedge against future changes in fuel prices, what positions (long or short) will it take in the spot and futures markets?
What will be an ideal response?
False advertising ________ likely to be successful with tickets on a new airline because the tickets are an ________ good.
A) is not; inspection B) is; experience C) is; inspection D) is not; experience
Statistical discrimination is not always:
A. legal. B. ethical. C. useful. D. All of these statements are true.
Exhibit 15-1 Production possibilities curves
In Exhibit 15-1, the production possibilities curves of wheat and corn for Nabia and Pada are presented. In Nabia the cost of producing one more unit of wheat is equal to:
A. 4 units of corn. B. 4 units of wheat. C. 1/4 unit of corn. D. 15 units of corn.