A decrease in government spending and taxes would be an example of fiscal policies that reinforce each other.
Answer the following statement true (T) or false (F)
False
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Refer to the figure above. Other things remaining the same, assume that the individual now has a higher opportunity cost of time. Which of the following statements is true in this context?
A) Optimization in levels will not lead to an efficient outcome. B) The cost curve will move u
In the above figure, what is the amount of producer surplus at the efficient quantity?
A) $0 B) $1,000 C) $2,000 D) $4,000
An increase in a fixed exchange rate from $2.00 per pound to $2.10 per pound is called a(n) ________ of the pound
A) devaluation B) appreciation C) revaluation D) depreciation
The presence of a distorting tax on wage income can result in
A) MPN < MRT1,C. B) MRT1,C < MRS1,C. C) MPN < w. D) MRS1,C < MPN