Which of the following is an example of an indirect tax?
A. Value-added tax
B. Income tax
C. Inheritance tax
D. Head tax
Answer: A
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Refer to the figure above. If the yuan is allowed to float, at exchange rates above E yuan per dollar:
A) the excess supply of dollars in exchange for yuan increases the value of the dollar in the foreign exchange market. B) the excess supply of dollars in exchange for yuan lowers the value of the dollar in the foreign exchange market. C) the excess demand for dollars in exchange for yuan lowers the value of the dollar in the foreign exchange market. D) the excess demand for dollars in exchange for yuan increases the value of the dollar in the foreign exchange market.
If the minimum efficient scale in toaster production is 500,000 units per year,
a. the average cost of producing 300,000 toasters is greater than the average cost of producing 500,000 b. the average cost of producing 300,000 toasters is equal to the average cost of producing 500,000 c. the total cost of producing 300,000 toasters is greater than the total cost of producing 500,000 d. the firm should not produce more than 500,000 toasters e. MC exceeds AC at 500,000 toasters
The AS curve shifts leftward if
A) good weather increases agricultural harvests. B) OPEC reduces world oil prices. C) tax cuts stimulate labor supply. D) the money wage rate increases. E) government expenditure increases.
"As you devote more hours to studying, your GPA increases." A graph of this relationship would show
A) a positive relationship. B) a direct relationship. C) an inverse relationship. D) Both answers A and B are correct.