The larger the U.S. imposed per unit import tariff on a good imported and produced in the United States,
A) the smaller the U.S. consumer surplus.
B) the larger the U.S. producer surplus.
C) the larger the government revenue.
D) All of the above.
D
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Compared to the pay increase from just a third year of college, the actual pay increase resulting from a fourth year that results in graduation is
a. several times smaller b. the same c. only very slightly greater d. several times greater e. No economist has ever studied this issue
When two _____ monopolists merge, one division of the newly merged company will transfer its output to another division at its actual cost, instead of its profit maximizing price
a. price discriminating b. natural c. output rationing d. successive
During most of the 1990s, average hours worked per week ____, then, after 2000 . started to ____
a. rose steadily; level off b. remained virtually constant; drop slowly. c. were on the upswing; fall slowly. d. continued to decline; level off
Which of the following will cause a decrease in market equilibrium price and a decrease in equilibrium quantity?
A. an increase in demand B. a decrease in supply C. an increase in supply D. a decrease in demand