Refer to the Article Summary. Colorado taxes marijuana with a 12.9% sales tax on buyers and a 15% wholesale excise tax on producers, or a total tax of 27.9%
Suppose the actual burden of the tax falls 80 percent on consumers and 20 percent on producers. In this case, consumers will actually bear the tax burden of about ________ percent of the selling price and producers will actually bear the tax burden of ________ percent of the selling price.
A) 80; 20 B) 13; 15 C) 46; 54 D) 22; 6
D
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Refer to Table 16.2. Real GDP for Fredonia for 2016 using 2015 as the base year equals
A) $2,750. B) $3,500. C) $4,325. D) $5,500.
The IMF offers loans to developing countries in times of balance of payment constraints, but the IMF also faces strong criticisms because:
A. contractionary fiscal policy and expansionary monetary policy tend to be ineffective against balance of payment constraints. B. contractionary fiscal and monetary policies are always undesirable for any developing country. C. it employs economists that know little about developing countries and their economic affairs. D. the conditions tend to be procyclical, therefore worsening the recessions.
Recall the Application about the marginal cost involved in producing crude oil to answer the following question(s).Recall the Application. As the volume of crude oil increases, the marginal cost of production initially ________ at a moderate rate and then eventually ________ at a much faster rate.
A. increases; increases B. increases; decreases C. decreases; increases D. decreases; decreases
The network effect in the TV broadcasting industry results in
A. a positive market feedback between the number of advertisers and the number of TV channels. B. a negative market feedback between the number of advertisers and the size of TV audience. C. a negative market feedback between the number of advertisers and the number of TV channels. D. a positive market feedback between the number of advertisers and the size of TV audience.