In the 1980s, tax rates were cut, government revenues fell below expectations, and there was a then-historic peacetime deficit
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 4.1, which shows Molly's and Ryan's individual demand curves for compact discs per month. Assuming Molly and Ryan are the only consumers in the market, what is the market quantity demanded at a price of $3?
A) 6
B) 9
C) 15
D) 20
Other things the same, if the price level is higher than expected, then some firms believe that the relative price of what they produce has
a) increased, so they decrease production. b) decreased, so they increase production. c) decreased, so they decrease production. d) increased, so they increase production.
In the 1945 ALCOA case, the court used company performance rather than the structure of the market to determine whether the company was in violation of antitrust laws.
Answer the following statement true (T) or false (F)
Domestic producers require time to gain experience and lower their unit costs; this will allow these producers to compete successfully in international markets. This statement describes the ________ argument for protectionism
A) diseconomies of scale B) protecting national security C) anti-dumping D) infant industry