The balance of payments always balances, because each of the specific accounts must, by definition, be in balance
a. True
b. False
B
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If the MPC = 0.9, the multiplier would be
A) 0.1. B) 2. C) 9. D) 10.
If oranges were found to cure cancer
A) the equilibrium price of apples would likely fall. B) the equilibrium price of oranges would likely increase in the near term. C) the equilibrium quantity of oranges would likely increase. D) All of the above.
Refer to the table and information below. What is the total cost and total benefit of projects 1, 2, and 3?
A government is considering undertaking one or more construction projects. The estimated marginal costs and benefits of each project are given in the table.
A. Total cost is $18 million and total benefit is $19 million
B. Total cost is $24 million and total benefit is $27 million
C. Total cost is $37 million and total benefit is $41 million
D. Total cost is $65 million and total benefit is $66 million
The size of a tax distortion depends on how elastic the parties are to a transaction.
Answer the following statement true (T) or false (F)