The International Monetary Fund lends money to countries to
A. finance their international transactions.
B. stabilize their exchange rates.
C. promote their economic development.
D. Both A and B are correct.
Answer: D
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The short run is a time frame in which
A) the quantities of some factors of production are fixed and the quantities of other factors of production can be varied. B) the quantities of all factors of production can be varied. C) the quantities of all factors of production are fixed. D) all costs are sunk costs.
Many economists believe that tax cuts increase incentives to work and invest but current U.S. tax levels do not appear to be on the downward side of the Laffer curve
a. True b. False Indicate whether the statement is true or false
Suppose that the market for product X is characterized by a typical, downward-sloping, linear demand curve and a typical, upward-sloping, linear supply curve. Suppose the price elasticity of supply is 0.7 . Will the deadweight loss from a $3 tax per unit be smaller if the absolute value of the price elasticity of demand is 0.6 or if the absolute value of the price elasticity of demand is 1.5?
In Figure 5.2, at quantities smaller than Q1,
A. total revenue is falling. B. price elasticity is greater than 1. C. price and total revenue are directly related. D. All of these