A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut
A) increase; more
B) increase; less
C) decrease; more
D) decrease; less
Answer: B
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"We continue to believe that consumers are best served by competition rather than monopolies," said National Association of Broadcasters Vice President Dennis Wharton. What does Wharton argue? A) Producer surplus is greater with competition. B) Total surplus is greater with a monopoly. C) Consumer surplus is greater with competition. D) Prices are lower with a monopoly.
Comparing the California test scores to test scores in Massachusetts is appropriate for external validity if
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A pure monopolist is selling 7 units at a price of $12. If the marginal revenue of the 8th unit is $4, then the price of the 8th unit is
A) $10. B) $11. C) greater than $12. D) $4.
Amy goes to college to become a nurse. This is an example of an
A. investment in human capital. B. increase in labor. C. investment in physical capital. D. increase in entrepreneurship.