The following data show levels of planned variables for an economy. I = investment, S = saving after taxes, G = government spending, T = taxation, X = exports, and M = imports. ISGTNXMA222943354640B243445394844C263848425047D284251475351What is the equilibrium level of domestic output?
A. Choice A
B. Choice B
C. Choice C
D. Choice D
Answer: B
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A geographic region in which the benefits of having a common currency exceed the costs is
A) an optimum currency area. B) an exchange-rate mechanism. C) a currency board area. D) a common currency area.
What is true about dominant strategies in the game in Scenario 13.11?
A) R1 and C1 are dominant strategies. B) R1 and C2 are dominant strategies. C) R2 and C1 are dominant strategies. D) R2 and C2 are dominant strategies. E) There are no dominant strategies.
Government often finds it difficult to cope with externalities because
a. costs and benefits are difficult to assess in monetary terms. b. taxes and subsidies are ineffective in equating MSC and MSB. c. government has no authority to impose fines for air and water pollution. d. marginal private cost curves cannot be shifted.
Suppose a firm in a competitive market produces and sells 8 units of output and has a marginal revenue of $8 . What would be the firm's marginal revenue if it instead produced and sold 4 units of output?
a. $2 b. $8 c. $32 d. $64