Compared to most countries, the United States gets a higher percentage of tax revenue from ______.
a. excise
b. sales
c. income
d. customs
c. income
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If government purchases decreases by $1 million while net taxes are unchanged, then:
A. public saving increases. B. private saving increases. C. public saving decreases. D. public saving does not change.
Answer the following statement(s) true (T) or false (F)
1. Social welfare would be increased if a monopolistically competitive industry were replaced with a competitive industry. 2. The Robinson-Patman Act was designed to stop resale price maintenance. 3. It is possible for a firm engaging in predatory pricing to make a profit on the good even thought the price is set artificially low. 4. It is possible to avoid the prisoners' dilemma as long as the interaction is repeated and has a definite ending date. 5. Fair trade refers to the fact that retailers are free to set their price in the absence of resale price maintenance.
Can activities like driving faster than the speed limit or driving without wearing a seat belt be considered rational behavior? Why or why not?
Which statement describes an advantage of money as a store of value?
What will be an ideal response?