A seller is willing to sell a product only if the seller receives a price that is at least as great as the
a. seller's producer surplus.
b. seller's cost of production.
c. seller's profit.
d. average willingness to pay of buyers of the product.
b
Economics
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If the income tax rate is 20 percent and the tax rate on consumption expenditure is 15 percent, then the tax wedge is
A) 2 percent. B) 35 percent. C) 300 percent. D) 5 percent. E) None of the above answers is correct.
Economics
To offset the effect of households and firms deciding to hold less of their money in checking account deposits and more in currency, the Federal Reserve could
A) raise the discount rate. B) buy Treasury securities. C) raise the required reserve ratio. D) lower bank taxes.
Economics