Canning machines and auto assembly line machinery are examples of special-purpose equipment.

a. True

b. False

Page (s) 165-166 5.3. Why do taxes create deadweight loss in otherwise efficient markets? How would the consumer notice if the government decided to levy a new $2 tax on potato chips?

Your local chain grocery store has out of season produce. what is the best way to foster sustainable agriculture in your own community? question 7 options:

Which of the following is characterized by private or corporate ownership of capital goods; investments that are determined by private decision rather than by state control; and determined in a free market?

Graham receives $640,000 at his retirement. he invests x in a twenty-year annuityimmediate with annual payments and the remaining $640, 000 - x is used to purchase a perpetuity-immediate with annual payments.

The economic way of thinking stresses that good intentions lead to sound policy." How would you evaluate this statement? Check all that apply a.

Why do people keep money in transaction accounts?

Advanced Printing Systems is a firm in a monopolistically competitive market. If its marginal cost is $18 per unit in the short run, if it is maximizing profits, and if it is selling at the equilibrium quantity, what is its marginal revenue?

Consider a simple economy that produces two goods: pens and oranges. The following table shows the prices and quantities of the goods over a three-year period.

Which of these would be a result of inflation? A business reports a loss for a tax year. A CEO pays less in taxes than five years ago. A company scales back production. A company increases production as a result of growing demand.

Which of the following would be the best example of a total institution? a. a mental hospital b. a private university c. a parochial school d. a baseball team