Taxes on polluting emissions are
A. more efficient than direct controls.
B. used by all economic societies.
C. less effective than direct regulations.
D. easily enforced through the criminal justice system.
Answer: A
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If the exchange rate between the U.S. dollar and the Japanese yen is $1 = 200 yen, then the dollar price of yen is
A. $.005. B. $.05. C. $.50. D. $5.
Suppose a market has only one seller and only one buyer of a good in the market. The buyer is willing to pay $50 for the good and the seller is willing to accept $15. The market price of the good is determined at $30
If they trade, the social surplus will be ________. A) $15 B) $35 C) $45 D) $65
If a consumer has a choice between only two goods and both of them are perfect complements what would the indifference curve look like and why?
What will be an ideal response?
In 2010, the United States had a nominal GDP of $14,958 billion and a real GDP of $13,598 billion, what was the GDP deflator?
a. 100 b. 109 c. 110 d. 111