Use the information in the table above to calculate the value of government saving
A) $15 million
B) -$5 million
C) $5 million
D) $45 million
C
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In an attempt to separate the quality changes from price changes of a product over time, the BLS does a:
A. hedonic quality adjustment by estimating what the price of the item would be without the improved features. B. hedonic quality adjustment by estimating the price of similar goods. C. qualitative price change by estimating the price of all possible brands of the items. D. qualitative market adjustment by estimating the price of the items in all markets.
The law of demand is illustrated by a demand curve that is:
A. horizontal. B. downward-sloping. C. vertical. D. upward-sloping.
John is a seller in an independent private-values auction environment where bidders are risk neutral. Which auction yields John the greatest expected revenue?
A. English B. Second price C. First price D. All of the choices are revenue equivalent.
How is an exchange rate depreciation likely to affect imports and exports in the short run and over a longer period of time?
What will be an ideal response?