Recall the Application about the decrease in price of illegal drugs in the United States to answer the following question(s).Recall the Application. If the decrease in price of illegal drugs is primarily due to a change in demand, the equilibrium quantity of drugs:
A. will increase.
B. will decrease.
C. will not change.
D. may or may not change.
Answer: B
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A budget surplus occurs when ________
A) government spending exceeds tax revenue B) tax revenue exceeds government spending C) imports exceed exports D) exports exceed imports
Suppose a firm wanted to go out of business. The firm sells all its assets and pays off everything it owes to creditors. The stockholders would receive
A) nothing. B) their annual dividend payment. C) one half of the funds; the other half of the funds goes to bondholders. D) the rest of the funds, after everyone who has a claim against the firm is paid.
The Reciprocal Trade Agreement Act of 1934
a. increased the level of tariffs in the United States. b. was the first in a series of retaliatory trade acts passed by Congress. c. was the first in a series of Congressional acts reducing tariffs. d. increased the level of tariffs in the United States AND was the first in a series of retaliatory trade acts passed by Congress.
Florencia has decided to make computer literacy mandatory in high schools. This is expected to bring about a technological growth and cause: a. the long-run aggregate supply curve to shift rightward
b. the long-run aggregate supply curve to shift leftward. c. an upward movement along the long-run aggregate supply curve. d. a downward movement along the long-run aggregate supply curve.