The utilitarianism, Rawlsian, and benefits-received arguments all favor a ________ tax system
A) regressive
B) progressive
C) proportional
D) value-added
B
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In the figure above, which budget line has the lowest relative price of carrots?
A) AD B) BD C) CD D) The relative price is equal for all three budget lines.
Production functions only apply to advanced economies
Indicate whether the statement is true or false
In Eugene, Oregon, there are several Italian restaurants, each offering slightly different items prepared in slightly different ways. It is likely that an Italian restaurant in Eugene, Oregon, operates in a(n):
A. perfectly competitive market. B. monopolistically competitive market. C. monopoly market. D. oligopoly market.
Refer to Scenario 7.1 below to answer the question(s) that follow. SCENARIO 7.1: You are the owner and only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year. Refer to Scenario 7.1. Your accounting profit last year was
A. $10,000. B. $30,000. C. $50,000. D. $60,000.