Economists consider price discrimination to always be undesirable
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose X - M = net exports; T - G = government sector balance; and S - I = private sector balance. What relationship exists among these variables?
A) (X - M ) + (T - G ) + (S - I ) = 0 B) (X - M ) = (T - G ) + (S - I ) C) (T - G ) + (X - M ) = (S - I ) D) (T - G ) = (X - M ) + (S - I )
When calculating the effect of a tax cut on equilibrium GDP, the tax multiplier is always
a. 2.0 smaller than the spending multiplier b. 1.0 smaller than the spending multiplier and negative in sign c. positive d. positive and larger than the spending multiplier e. negative and larger than the spending multiplier
Use the following table to answer the next question.OutputATC Plant 1ATC Plant 2ATC Plant 3ATC Plant 41,500$10$15$20$302,00081217252,50091015203,00012813183,50015611164,00018109144,50020127125,000241511105,50029191386,0003525159Plant sizes get larger as you move from Plant 1 to Plant 4. Which plant size would generate the least average total cost for the 3,000-4,000 level of output?
A. Plant 1 B. Plant 2 C. Plant 3 D. Plant 4
Which of the following illustrates how diminishing marginal product can occur?
a. Once Sue hired Lynne to handle accounts receivable and Michael to handle accounts payable, she was able to keep up with payroll, taxes, and other administrative tasks. b. Scheduling additional stylists at the salon on Saturday caused mix-ups and delays because there were still the same number of washing and cutting stations available. c. When their team manager was on vacation, Xan and Martine stepped in to lead staff meetings and make sure updated sales figures were reported to management. d. Kurt prefers to work alone, so he runs a one-man embroidery shop, even though it means long hours and learning the hard way to keep up with payments and billing.