Suppose the demand curve for movie tickets has unitary price elasticity and the supply curve is perfectly price elastic. If 3 million tickets are currently sold at a price of $5, approximately how much tax revenue could the government generate from a $1 specific tax?

Which of the following was a key belief of Adam Smith?

a. he felt that human goodness would provide adequate goods and services to everyone. b. he stressed that limited exchange and command economies would prevent the exploitation of the poor. c. he believed that individuals pursuing their own interests would direct economic activity in the most advantageous way. d. he lectured about the importance of gold and silver in providing a stable monetary system.

The host country has more reasons to restrict foreign direct investment than does the home country.

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