When the government chooses to spend the tax dollars that it collects on homeland security, its choice
A) involves a tradeoff of other goods and services such as education for more homeland security.
B) illustrates that scarcity does not always exist.
C) involves no tradeoff because the defense is necessary.
D) primarily affects who gets the goods and services produced.
A
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Jay owns a classic car he purchased for $50,000. At a car rally a knowledgeable classic car enthusiast offers him $75,000 for the car. Based on this information:
A. Jay's wealth is unchanged. B. Jay's saving this year has increased by $25,000. C. Jay has experienced a $25,000 capital gain. D. Jay's saving this year has decreased by $25,000.
When voluntary exchange takes place, only one party gains from the exchange
Indicate whether the statement is true or false
Fiscal policy is impotent when the LM curve is
A) vertical. B) horizontal. C) downward-sloping. D) horizontal or downward-sloping.
Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 200 computers are produced per week
Given this information, the marginal product of the third worker is A) 210 computers per week. B) 70 computers per week. C) 60 computers per week. D) 50 computers per week.