Everything else equal, as increase in investment in physical and human capital will mean lower living standards in the present, because the opportunity cost of investment is foregone consumer goods
a. True
b. False
A
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Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The result of Omegalon imposing anti-dumping tariffs on electric lawnmowers manufactured in Alphonia would most likely be
A) lower selling prices on electric lawnmowers in Alphonia. B) higher selling prices on electric lawnmowers in Omegalon. C) increased exports of electric lawnmowers from Alphonia. D) an increased market share for Alphonian-manufactured electric lawnmowers in Omegalon.
The flat region of the aggregate supply curve reflects the Keynesian belief that:
a. both inflation and unemployment does not exist. b. high growth rate of money supply poses problems in the economy. c. unemployment is usually experienced amidst high real GDP. d. government intervention in the economy aggravates the problems of inflation and unemployment. e. inflation is not a problem when unemployment is high.
Suppose that the supply curve for a good is vertical. In this case we would expect
A. a tax placed on the buyer to be borne entirely by the seller. B. nothing to be sold so no tax is collected. C. a tax placed on the buyer to be borne entirely by the buyer. D. the tax to be shared equally by both buyer and seller.
This table shows price and quantity produced for a single firm in a perfectly competitive market.PriceQuantity$1023$1024$1025$1026Given the information in the table shown, what is the average revenue when 24 units are produced?
A. $10 B. $240 C. $24 D. $2.40