The per-unit burden of the tax on sellers is
A. $8
B. $14
C. $6
D. $10
C. $6
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Janet calculated the GDP growth rates for France between 2012 and 2013. Using 2012 prices for both years, GDP increased 5 percent. Using 2013 prices for both years, GDP increased 1 percent
Hence the chained-price method will calculate that between these years, real GDP increased by A) 3 percent. B) 4 percent. C) 1 percent. D) 5 percent. E) 6 percent.
Consumers need information to make good choices. Which of the following is correct regarding this information?
a. Advertising is always harmful to consumers. b. Information is scarce and therefore valuable. c. Brand names offer no informational content. d. Acquiring more information is always rational. e. Marginal analysis does not apply to the acquisition of information.
The economy is in a recessionary gap and a Keynesian economist advocates expansionary fiscal policy. What is a likely reason this economist advocates expansionary fiscal policy?
A) The economist believes the economy is stuck in a recessionary gap and crowding out will be complete. B) The economist believes the economy is stuck in a recessionary gap and there will be no crowding out. C) The economist believes that wages are too flexible and that crowding out will be incomplete. D) The economist believes the AD curve is downward-sloping, the SRAS curve is upward-sloping, and prices are flexible. E) none of the above
Appreciation of the dollar refers to
A. An increase in the dollar price of foreign currency. B. A loss of foreign exchange reserves. C. Intervention in international money markets. D. A fall in the dollar price of a foreign currency.