Which of the following are considered ad valorem taxes?
A) taxes assessed by charging a rate equal to a percentage of an item's price
B) taxes assessed by charging a flat amount per unit purchased
C) taxes based on the amount of debt that the government must repay
D) taxes based on the amount of spending the government will undertake
A
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One problem associated with a monopoly firm is that it
A) produces too little output but also charges a low price. B) produces too much output and charges too low a price. C) restricts output and charges a relatively higher price than a purely competitive firm. D) is just as good as a purely competitive firm in terms of output and price.
Other things equal, which of the following is the result of increased saving?
a. a decrease in interest rates b. a decrease in prices c. forgone consumption d. all of the above