Suppose the government sets a price floor that is above the equilibrium price for a given good. It can be said that at the price floor a. although sellers are selling all of the product that they desire at this price, the consumers are not able to buy all that they desire.
b. although consumers are purchasing all of the product that they desire at this price, the sellers are not selling all that they desire.
c. both sellers and buyers are satisfied with the quantity that is being exchanged.
d. both sellers and buyers are exchanging the equilibrium quantity of this good.
e. b and d

Suppose the price of frozen yogurt, a substitute for ice cream, increases. what happens to equilibrium price and quantity of ice cream? a. the price and quantity of ice cream both increase b. the price and quantity of ice cream both decrease c. the price of ice cream increases and the quantity decreases d. the price of ice cream decreases and the quantity increases

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

Which feature is a characteristic of a corporation?