You are an economic advisor to the president. You are asked to recommend a policy to promote long-term economic growth in the economy. Which of the following policies would you choose?
A) a reduction in taxes on luxury yachts B) an investment tax credit
C) a reduction in sales taxes D) all of the above
B
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For demand to exist, there must be
a. a desire and an ability to buy. b. a supply of the product in the market. c. a price that is low enough to permit all consumers to afford the product. d. All of these.
A monopolist faces a demand curve that
A) is perfectly horizontal at the market price. B) is below the marginal revenue curve. C) is downward sloping. D) coincides with the industry supply.
In a Crown colony
a. both its governor and upper house were appointed by the Crown. b. the governor was appointed by the Crown while the upper house was elected by the propertied adult males within the colony. c. only the lower house could initiate fiscal legislation. d. Both a and b are correct. e. Both a and c are correct.
If a player has a dominant strategy, that player will always win the game.
Answer the following statement true (T) or false (F)