An example of a public good would be
A. a plane ride from Miami to Dallas.
B. flood control protection from a government authority.
C. a commuter's trip to work by car from Berkeley to Chicago.
D. a bus ride from Phoenix to Los Angeles.
B. flood control protection from a government authority.
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Which of the following items is most likely to be an implicit cost of production?
a. the "competitive rate" salary the owner of the business pays herself for services provided b. property taxes on a building owned by the firm c. rental payments for a building utilized by the company and rented from another party d. the interest income foregone on the equity capital invested by owners
The relative tax burden borne by buyers and sellers is called the:
A. tax wedge. B. tax incidence. C. tax revenue. D. real tax.