If the same fine is imposed on buyers and sellers of an illegal good so that the cost of breaking the law is the same for both, then
A) there is more government revenue collected than with an excise tax on the good.
B) there is no deadweight loss in this market because the extra producer surplus will exactly offset the lost consumer surplus.
C) the supply and demand curves both shift leftward by equal amounts.
D) the equilibrium price of the good definitely increases.
C
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In the 15 years ending February 2016, most active portfolio managers failed to beat the market
a. True b. False Indicate whether the statement is true or false
For purposes of calculating the CPI, the food & beverages category of consumer spending includes the cost of
a. food away from home. b. alcoholic beverages. c. both food away from home and alcoholic beverages. d. neither food away from home nor alcoholic beverages because these are included in the recreation category of consumer spending.