Figure 4-25
Refer to . The benefit to the government is
a.
measured by tax revenue and is represented by area A + B.
b.
measured by tax revenue and is represented by area B + D.
c.
measured by the net gain in total surplus and is represented by area B + D.
d.
measured by the net gain in total surplus and is represented by area D + E.
b
You might also like to view...
Which of the following was an outcome of political disagreement about balancing the federal budget in 2013?
a. a default on treasury bonds b. a two-week government shutdown c. delayed Treasury bond payments d. resignation of several government economists
Suppose there is a decrease in U.S. income and Mexican income does not change. We would expect to see
A) both the dollar and the peso depreciate. B) both the dollar and the peso appreciate. C) the dollar depreciate and the peso appreciate. D) the dollar appreciate and the peso depreciate.
Which of the following is a major measure of economic growth?
A. The rise in the price level. B. Changes in interest rates. C. The fall in the rate of unemployment. D. Changes in real GDP per capita.
Rational expectations theory implies that the:
A. aggregate demand curve is vertical. B. long-run aggregate supply curve is vertical. C. long-run aggregate supply curve is horizontal. D. long-run aggregate supply curve is quite flat.