A sales tax is an example of:
A. a specific tax.
B. an ad valorem tax.
C. a lump sum tax.
D. an income tax.
B. an ad valorem tax.
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An industry with only three large equally-sized firms would have the same four firm concentration ratio but a higher Herfindahl-Hirshman Index compared to an industry with only four equally sized firms
a. True b. False Indicate whether the statement is true or false
Macroeconomics is the branch of economics that focuses on:
a. broad issues such as growth, unemployment, inflation, and trade balance. b. the actions of particular agents within the economy, like households, workers, and business firms. c. the means of production (resources and businesses) that are owned and operated by private individuals or groups of private individuals. d. workers or firms, and whether they are well suited within the overall production process.