A perfect-price-discriminating equilibrium maximizes
A) consumer surplus.
B) the associated deadweight loss.
C) the market inefficiency.
D) total welfare.
D
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A(n) ________ is a system of controlling overfishing whereby the government decides how big the total fish catch will be and then lets fishermen negotiate to determine the share of the total catch each fisherman will be allowed
Fill in the blank(s) with correct word
If Slovenia were a large country in world trade, then if it instituted a large set of subsidies for its exports, this must
A) harm its terms of trade. B) have no effect on its terms of trade. C) improve its terms of trade. D) decrease its marginal propensity to consume. E) harm world terms of trade.
If a company is liquidated, common stockholders ______.
a. are entitled to nothing and lose their investment b. receive their dividends first, before any of the company’s other obligations are met c. are obligated to pay any debts remaining after the company’s assets have been sold d. receive all remaining corporate assets after the company’s debts and preferred stockholders have been paid
Suppose the supply of land is perfectly inelastic and landowners are receiving payments equal to $25,000 an acre. If the government taxed the landowners' income with a tax rate of 80 percent, how much tax would the government collect?
A) zero, because the owner would do something else with the tax rather than pay such a high tax B) less than $20,000 because the owners would change their behavior so as to pay less tax C) more than $20,000 because the combined effects of all the owners trying to change their behavior actually would generate higher returns D) $20,000 because the use of the land doesn't depend on the price the landowners receive for the land