Corrective taxes cause deadweight losses, reducing economic efficiency

a. True
b. False
Indicate whether the statement is true or false


False

Economics

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Your textbook discusses "dry" counties in the U.S. What is a dry county?

A) A county where rainfall is below the national average B) A county that experiences no rainfall C) A county in which it is illegal to produce, purchase and sell alcohol D) A county in which only dry gin is consumed

Economics

When money is accepted as payment in a market transaction, it is functioning as a

A) store of value. B) unit of accounting. C) medium of exchange. D) unit of investment.

Economics

A major difference between a monopoly and perfect competition is that monopolies can earn an economic profit in the long run and a perfectly competitive firm cannot.

Answer the following statement true (T) or false (F)

Economics

Cartels are organizations that:

A. coordinate the output and pricing decisions of a group of firms. B. keep markets contestable. C. encourage price wars. D. use predatory pricing to monopolize industries.

Economics