If more buyers came into the market for a good, we would expect to see the market demand curve
A) shift inward and to the left.
B) remain unchanged since none of the determinants of individual demand changed.
C) shift outward and to the right.
D) reflect a positive relationship between price and quantity demanded.
C
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When we apply economic analysis to democracies, it is reasonable to expect government policies to be serving
A) many extremely partial or special interests. B) the interests of business generally. C) the interests of consumers. D) the interests of the majority. E) the interests of the people who most highly value the results of government actions.
Suppose the government borrows to purchase military ammunition which is immediately used up in target practice. The rate of return on this investment is ________, and in this case the government debt ________ a burden on future taxpayers
A) r, is not B) r, is C) 0, is not D) -r, is not E) -r, is
Suppose the United States can produce 2,000 cars or 2,000 trucks. Japan can produce either 2,000 cars or 1,000 trucks. In terms of car production, we can conclude that
A. The United States has a comparative advantage. B. The United States has an absolute advantage. C. Japan has an absolute advantage. D. Japan has a comparative advantage.
According to the Laffer curve, when the tax rate is 100 percent, tax revenue will be:
A. 0. B. at the maximum value. C. the same as it would be at a 50 percent tax rate. D. greater than it would be at a 50 percent tax rate.