Tax collected based on a taxpayer's spending is known as:
a. excise tax

Who gains from international trade?

A) only the exporting nation B) only the importing nation C) both the importing and the exporting nations D) neither the importing nor the exporting nations E) The gain depends on which nation gets to keep the total revenue from the sale.

Cindy's Sweaters' production function is shown in the above table. Cindy rents two knitting machines for $30 a day each and hires workers at a wage rate of $40 a day. What is the marginal cost of the 19th sweater?

A) $40.00 B) $20.00 C) $10.00 D) $8.00