What would the Balance on Goods and Services equal given the following information?Government Taxes= $700; Saving= $100; Gross Private Domestic Investment= $400; Government Spending= $600
a. It is impossible to tell.
b. +$1,800
c. +$200
d. -$200
e. +$800
.D
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A firm has two customers and creates a two-part tariff with a usage fee (P) that exceeds the marginal cost of production and leaves each customer with positive consumer surplus such that CS2 > CS1 > 0
If the firm sets the entry fee equal to CS2, then the number of customers that actually buy the product is equal to: A) zero. B) one. C) two. D) We don't have enough information to answer this question.
Suppose the observed annual quantity of steel exchanged in the European market is 30 million metric tons, and the observed market price is 90 euros per ton. If the price elasticity of demand for steel is -0.3 in Europe, what is an appropriate value for the price coefficient (b) in a linear demand function ?
A. b = -0.9 B. b = 0.9 C.b = 0.1 D. b = -0.1
"It is difficult to compare over time health care expenditures, costs, and output." Do you agree or disagree? Why?
What will be an ideal response?
Refer to the information provided in Figure 6.15 below to answer the question that follows.
Figure 6.15Refer to Figure 6.15. If the price of a hot dog is $4, Jason's income is
A. $50. B. $400. C. $600. D. indeterminate because the price of sandwiches is not given.