If Y = $100 billion, then C = $50 billion, and I = $60 billion. What will autonomous investment be when Y = $200 billion and C = $100 billion?
a. $50 billion
b. $60 billion
c. $100 billion
d. $120 billion
e. $200 billion
B
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The above figure shows the market demand curve for mobile telecommunications (time spent on a mobile phone). The current price is $0.35 per minute. If the price were to increase by ten cents per minute, consumer surplus would
A) fall to $820. B) fall by $84. C) fall by $58. D) fall to $369.
Cost-benefit principles can be applied to the decision of:
a. profit-maximizing firms. b. majority-rule voting. c. which project receives the most votes. d. rational ignorance. e. all of these.
The import tariffs that President Bush placed on imported steel likely had what effect?
A. Both domestic steel consumers and foreign steel producers were helped. B. Domestic steel producers were helped, but domestic steel consumers were hurt. C. Foreign steel producers were helped, but domestic steel consumers were hurt. D. Both domestic steel producers and domestic steel consumers were helped.
Federal government spending was fairly constant for more than a decade until the year _____, when it rose sharply; then it rose sharply again in the year _____.
Fill in the blank(s) with the appropriate word(s).