The government would be running a budget surplus if:
A. Government spending is lower than consumer spending
B. Tax revenues are less than government spending
C. It imports less from abroad than it exports
D. Government spends less than it collects in taxes
D. Government spends less than it collects in taxes
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The above figure shows the apartment rental market in Bigtown. If the Bigtown Housing Authority imposes a rent ceiling of $500 per apartment, the deadweight loss will be
A) $1,000,000. B) $500,000. C) $250,000. D) $125,000.
A perfectly competitive firm's short-run shutdown point is the level of output at which
A) price equals average total cost. B) price equals average fixed cost. C) price equals the minimum average variable cost. D) price is above the minimum average total cost but below the minimum average fixed cost.
How can minimum wage laws, which are supposed to help workers, have a negative impact on producers and the economy?
What will be an ideal response?
A mismatch between the geographic location of workers and the location of job openings would result in which type of unemployment?
A. Wait B. Cyclical C. Frictional D. Structural