Use the figure below to answer the following question.
What is the amount of government revenue after the government imposes the excise tax on the market?
A. $540
B. $162
C. $486
D. $144
Answer: D
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If there is a combination of strategies in which each player's action is the best response to the actions of other players, then there is
A) a Boyes equilibrium. B) an unstable equilibrium. C) a complementary equilibrium. D) a Nash equilibrium.
If marginal cost is rising in a competitive firm's short-run production process and its average variable cost is falling as output is increased, then which statement is true?
a. Marginal cost is above average variable cost. b. Marginal cost is below average fixed cost. c. Marginal cost is below average variable cost. d. Average fixed cost is constant.
Between 1994 and 2000 the poverty rate ____ and the number of people on welfare ______.
A. declined; declined B. rose; rose C. rose; declined D. declined; rose
When foreigners purchase U.S. assets, there is an inflow of funds from abroad and this is recorded as a
A. positive item in the capital account. B. positive item in the current account. C. negative item in the capital account. D. negative item in the current account.