A tax on a good
a. raises the price that buyers effectively pay and raises the price that sellers effectively receive.
b. raises the price that buyers effectively pay and lowers the price that sellers effectively receive.
c. lowers the price that buyers effectively pay and raises the price that sellers effectively receive.
d. lowers the price that buyers effectively pay and lowers the price that sellers effectively receive.
b
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During the 1980s, Harley-Davidson, the American motorcycle maker asked Congress for tariff protection from large motorcycles imported from Japan
Harley-Davidson argued that their company needed protection so the company could reorganize and, after some time had passed, could become more competitive. Harley-Davidson's argument is similar to the ________ argument for protection. A) anti-dumping B) save domestic jobs C) infant-industry D) national security E) bring diversity and stability
The ________ nature of consumer durables expenditures ________ a significant drop in the personal-saving-and-consumer-durables-expenditure ratio in a recession
A) procyclical, helps produce B) procyclical, prevents C) countercyclical, helps produce D) countercyclical, prevents
Compared to perfect competition, a monopoly in the long run
A. produces a larger output. B. charges a higher price. C. produces the minimum average cost. D. All of these responses are correct.
The largest source of income for banks is
a. the interest received from loans b. fees charged to customers for accounts c. money deposited in savings accounts d. fees charged on credit cards