When a tax is placed on the sellers of cell phones, the size of the cell phone market
a. and the effective price received by sellers both increase.
b. increases, but the effective price received by sellers decreases.
c. decreases, but the effective price received by sellers increases.
d. and the effective price received by sellers both decrease.
d
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Marginal revenue is
a. total revenue minus total cost b. total revenue divided by quantity of output c. the change in total revenue divided by the change in output d. the change in total revenue divided by the change in the quantity of an input used e. economic profit
What were the negative results predicted by Malthus' and how can we avoid such results?
Which of the following would happen as the wage rate gradually adjusts following a shock?
a. Nothing will change b. A shift of the production possibilities frontier c. A shift in the short-run aggregate supply curve d. A shift in the aggregate demand curve e. A shift in the long-run aggregate supply curve
The General Agreement on Tariffs and Trade is an international agreement
A. to establish the North American continent as a free trade area. B. to encourage world trade by lowering tariffs and other trade barriers. C. to make all tariffs illegal. D. to encourage peaceful settlements of trade disputes, but has no particular point of view about the desirability of higher or lower tariffs.