A tax rebate by the government would
A) increase your pretax income, but not your disposable income.
B) increase your disposable income, but not your pretax income.
C) decrease your pretax income, but not your disposable income.
D) decrease your disposable income, but not your pretax income.
Answer: B
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A decrease in quantity demanded
a. results in a movement downward and to the right along a demand curve. b. results in a movement upward and to the left along a demand curve. c. shifts the demand curve to the left. d. shifts the demand curve to the right.
Which of the following firms is most likely a price leader in an oligopolistic industry?
a. Firm A controls 15 percent of the market for automobiles. b. Firm B accounts for 10 percent of total wheat sales. c. Firm C controls 65 percent of the market for heavy machinery. d. Firm D accounts for 12 percent of the fast food market.
If total utility from consuming two cups of coffee is 20 utils, and if the total utility from consuming three cups of coffee is 25 utils, then which of the following is the marginal utility of the third cup of coffee?
A. 0. B. 5. C. 20. D. 25.
The Lucas supply function, in combination with the assumption that expectations are rational, implies that an announced monetary policy change will
A. not change output. B. increase output, but never decrease output. C. decrease output, but never increase output. D. either increase or decrease output, depending on the type of monetary policy change.