If the dollar appreciates relative to foreign currencies, then:
A. U.S. goods will look cheaper to foreign buyers
B. Foreign goods will look more expensive to U.S. buyers
C. Net exports of the U.S. will increase
D. Foreign buyers will find U.S. goods become more expensive
D. Foreign buyers will find U.S. goods become more expensive
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According to supply-side economists, lower marginal tax rates will not necessarily lead to lower tax revenues because
A) the crowding out effect does not apply to taxes. B) lower tax rates have no effect on the opportunity cost of labor. C) the aggregate supply curve will shift inward to the left if the tax rates are lowered. D) the lower marginal tax rates will be applied to a growing tax base due to economic growth.
Discuss the correct and incorrect economic analysis in the following statements
"If a disease kills a large number of turkeys, the supply of turkeys will decrease. This will result in a price increase, which will then cause the supply of turkeys to increase." What will be an ideal response?
Suppose that Jessica's MU/P is 8 for swimming lessons, 12 for voice lessons, and 4 for piano lessons. In order for Jessica to maximize total utility, she should definitely
a. take more swimming lessons b. take more voice lessons c. take more piano lessons d. find some other activities because the values for MU/P are very low e. take fewer lessons of each type
Which of the following methods of encouraging recycling is likely to be most effective?
A) All three methods are equally effective. B) appealing to the consumers to "be a good citizen" C) publicizing the advantages of recycling D) imposing a tax per unit of garbage generated