Regardless of whether a tax is levied on sellers or buyers, taxes discourage market activity
a. True
b. False
Indicate whether the statement is true or false
True
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Answer the next question based on information in the following table.ProductPercentage Change in IncomePercentage Change in Quantity DemandedW?1?1X+6+3Y?1+1Z+4+8Which product would be an inferior good?
A. product W B. product X C. product Y D. product Z
The DD schedule shows all combinations of which 2 variables so that the output market is in equilibrium?
A) imports and exports B) exports and the exchange rate C) foreign prices and the exchange rate D) output and the exchange rate E) output and exports
A depreciation in the value of the U.S. dollar would:
A. encourage foreigners to travel on American owned airlines. B. make U.S. goods more expensive to foreign consumers. C. decrease the number of dollars it takes to buy a Swiss franc. D. make it more expensive for U.S. citizens to travel abroad.
A price equal to the free market equilibrium price is efficient because the willingness to pay by someone to consume an additional unit ________ the marginal cost to someone for producing that unit.
A. exceeds B. is less than C. equals D. None of these; efficiency is defined in terms of natural resources, not market equilibrium.