In an analysis of an excise tax on soda, which of the following is an exogenous variable?
a. The price received by sellers.
b. The price paid by buyers.
c. The quantity exchanged in the market.
d. The tax.
d. The tax.
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Marginal revenue product is the
A. additional revenue from one additional dollar increase in price. B. change in the revenue product resulting from one additional unit of input. C. additional revenue from one additional unit of input. D. change in revenue resulting in one additional dollar in price.
For a moving company, all of the following are examples of variable costs, except
a. Gasoline costs b. Truck rents c. Marketing costs d. None of the above
Managers of profit centers usually have
a. A lot of discretion over decisions b. Most of their decisions overseen by corporate executives c. No discretion over decisions d. Given excessively high bonuses
The Big Mac index is a measure of how well the purchasing power parity theory works
a. True b. False Indicate whether the statement is true or false