Rationing occurs for goods
A) that have a positive price.
B) that have a zero price.
C) that have a negative price.
D) that are not manufactured.
A
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Which of the following statements is TRUE about the role of gifts given to U.S. citizens from foreign residents?
A) Gifts are not included in the balance of payments because of the nature of the gift. B) Gifts are only included in the balance of payments if the gift is given to a government official. C) Gifts are included in the balance of payments. D) Gifts given to U.S. citizens are not included in the balance of payments but gifts given to foreigners are included.
Which of the following must be true in an oligopoly?
a. The firms produce a differentiated product. b. There is one dominant firm in the market. c. The firms are strategically interacting. d. The market is international in scope. e. There are no significant barriers to entry.
Recall the Application about how the price of CO2 permits in the European Union is determined to answer the following question(s).Recall the Application. In the European Union, the term they use for pollution permits is:
A. allowances. B. caps. C. trades. D. emissions.
Recall the Application about how a simultaneous increase in the gasoline tax and decrease in the income tax affect gasoline consumption to answer the following question(s).Recall the Application. Suppose a tax on carbon that increases the price of gasoline is combined with a cut in income taxes to ensure that total tax revenue collected by the government does not change. This tax policy has no ________ but has ________.
A. income effect; a substitution effect. B. income effect; a positive real effect. C. no real effect on consumption; an income effect. D. substitution effect; an income effect.