If the government were to increase taxes, it would be enacting:
A. contractionary fiscal policy.
B. expansionary fiscal policy.
C. contractionary monetary policy
D. expansionary budgetary policy.
A. contractionary fiscal policy.
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Suppose your utility function is given by 
. What is your demand function for 
?
What will be an ideal response?
Refer to above figure. In the absence of trade, how many Widgets does this country produce?
What will be an ideal response?
A perfectly competitive firm's short-run break-even output occurs
A) at the minimum point of its average variable cost curve. B) at the minimum point of its average total cost curve. C) at the minimum point of its marginal cost curve. D) at the intersection of its total cost curve and its marginal revenue curve.
The case study of segregated street cars in southern cities illustrates which of the following?
a. Streetcar owners opposed segregation laws primarily because they were concerned with civil rights. b. Segregation laws were supported by both local business owners and patrons. c. Firms usually care more about maximizing profits than discriminating against certain customers. d. Laws passed by the government cannot reduce discrimination.