Refer to the information provided in Table 24.1 below to answer the question(s) that follow.Table 24.1
Refer to Table 24.1. At the equilibrium level of income, leakages equal ________ billion.
A. $0
B. $100
C. $200
D. $300
Answer: D
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When the government reduces my income tax by $0.30 for every $1.00 that I contribute to a charity, the government is effectively
a. alleviating the negative externalities that are associated with charitable giving. b. imposing a negative externality on those who do not pay income taxes. c. encouraging a private solution to a positive-externality problem. d. encouraging a private solution to a negative-externality problem.
Assume a contractionary monetary policy causes real interest rates in the US to increase relative to Japan. In the short run, the value of the US dollar, the value of the Japanese yen, and the US balance of trade will most likely change in which of the following ways?
a. appreciate; appreciate; move toward deficit b. appreciate; depreciate; move toward deficit c. appreciate; depreciate; move toward surplus d. depreciate; depreciate; move toward surplus e. no change; appreciate; move toward deficit
A conflict between an owner and a manager may occur when
A) the manager earns more when the firm has higher profits. B) the manager is seeking to maximize leisure time. C) the owner can easily observe the manager slacking off and punish him accordingly. D) the firm is very small and the manager must perform multiple tasks.
An accurate demand curve can be derived by examining the quantities of a good that are sold over time as the price varies
a. True b. False Indicate whether the statement is true or false