Which of the following statements is true?
a. The quality of products sold in black markets tends to be less reliable than the quality of products in legal markets.
b. For otherwise identical products, the price of products in black markets tends to be higher than in legal markets.
c. The rate of violence is higher in black markets than in legal markets.
d. All of the above are true.
D
Economics
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U.S. tax laws allow taxpayers, in computing the amount of tax they owe, to use the real value, as opposed to the nominal value, of
a. both interest income and capital gains. b. interest income but not capital gains. c. capital gains but not interest income. d. neither interest income nor capital gains.
Economics
A firm will shut down in the short run if
A. MR < AVC. B. MR > AVC. C. AVC < AFC. D. P > MC.
Economics