Collusion and cartels are frequently legal in Europe
a. True
b. False
A
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Another name for a "flat-rate tax" in which the same tax rate applies to all income earners is a
A) proportional tax. B) progressive tax. C) regressive tax. D) passive tax.
The lower the price of a foreign currency, the more expensive that foreign country's goods and services are to individuals in the domestic economy
a. True b. False
Refer to Figure 18.2. Which of the following is not consistent with a shift from AS2 to AS1?
A. A major natural disaster such as an earthquake. B. A decrease in business taxes. C. Stagflation. D. An inward shift of the production possibilities curve.
Refer to the information provided in Figure 20.4 below to answer the question(s) that follow.
Figure 20.4Refer to Figure 20.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, this country will import ________ leather wallets.
A. 50 B. 100 C. 150 D. 200