Which of the following would call for outpayments from the United States?
A. The United States exports computer software.
B. The United States purchases assets abroad.
C. Foreigners purchase assets in the United States.
D. Foreign tourists spend money in the United States.
B. The United States purchases assets abroad.
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Refer to Figure 4-8. Suppose that instead of a rent ceiling, the government imposed a price floor of $2,000 per month for apartments. What is the value of the deadweight loss after the imposition of the price floor?
A) $50,000 B) $125,000 C) $175,000 D) $260,000
Some economists argue that the increases in aggregate demand for output spurred by wartime spending, complemented by the strong spending in the private sector, impacted the U.S. economy by
(a) increasing production and employment. (b) increasing employment and income. (c) increasing income, thus fueling additional spending. (d) contributing to all of the above.
Tax distortions refer to the cost of inflation that comes from:
A. the time, money, and effort one has to spend managing cash in the face of inflation. B. the money, time, and opportunity used to change prices to keep pace with inflation. C. being penalized via taxes for making more money in dollars, even though real purchasing power hasn't changed at all. D. labor costs associated with inflation.
Refer to the data provided in Table 17.6 below to answer the following question(s). The table shows the relationship between income and utility for Isabel.Table 17.6 IncomeTotal Utility $00 $40,00020 $80,00050$120,00090$160,000150Refer to Table 17.6. From the table, we can see that Isabel is
A. risk-neutral. B. risk-averse. C. risk-loving. D. We cannot determine Isabel's attitude toward risk from the table.