The official fiscal year budget deficits disappeared from 1998 to 2001.
Answer the following statement true (T) or false (F)
True
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The above figure shows the market for buckets of golf balls at the driving range. A new leisure time tax is placed on suppliers in this market, shifting the supply curve from S0 to S1. The tax incidence is
A) split equally between buyers and sellers, each paying $1 per bucket. B) split equally between buyers and sellers, each paying $2 per bucket. C) such that buyers pay $2 per bucket and sellers pay $1 per bucket. D) such that buyers pay $1 per bucket and sellers pay $2 per bucket. E) such that sellers pay all of the tax.
Answer the following statements true (T) or false (F)
1) When making output decisions, managers of firms producing a joint product with fixed proportions need to pay attention to the separate prices of the joint goods. 2) If a firm is producing a joint product with variable proportions, if the price of one of the joint products changes, to maximize profits, managers must adjust both the total production of the jointly produced product and the products' proportions. 3) If a firm is producing a joint product and the price of one of the products increases, the marginal benefit of producing more of that product increases. 4) If a firm is producing a joint product with variable proportions, producing more of one product means producing more of the other product. 5) Because the decision involves the production of two goods, marginal analysis cannot be used to determine the profit-maximizing proportions of jointly produced products.
In 2011, the average American earned about $48,000 while the average Nigerian earned about $1,200 . Which of the following statements is likely?
a. The average American purchases more televisions than the average Nigerian. b. The average American has better nutrition and healthcare than the average Nigerian. c. The average American has a longer life expectancy than the average Nigerian. d. All of the above are correct.
U.S. Financial Crisis. Suppose that foreigners had reduced confidence in U.S. financial institutions and believed that privately issued U.S. bonds were more likely to be defaulted on.
a. rise which by itself would increase aggregate demand. b. rise which by itself would decrease aggregate demand. c. fall which by itself would increase aggregate demand.