Effective price discrimination will enable a perfectly competitive firm to earn positive economic profits in both the short run and the long run
Indicate whether the statement is true or false
FALSE
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Which of the following would shift a nation’s entire production possibilities curve outward?
a. moving from less than full employment to full employment. b. developing a more efficient technology. c. more efficiently allocating productive resources already available. d. All of these.
When two countries specialize and trade with one another total production:
A. remains unchanged but consumption rises. B. increases, but only if comparative advantage exists. C. may increase, depending on trade relations. D. and consumption remain unchanged.
If a tax is progressive, the average tax rate
a. remains the same as income rises. b. rises as income rises. c. falls as income rises. d. falls with passage of time.
During 2001-2011, what happened to the federal budget deficit?
What will be an ideal response?