Refer to Figure 1A.2. The slope of the curve
A) is positive. B) is negative.
C) is zero. D) changes along the curve.
B
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The fact that different countries experience different standards of living is largely explained by differences in those countries'
a. populations. b. productivity levels. c. locations. d. None of the above is correct. Economists are puzzled by differences in standards of living around the world.
Give an example of government intervention that is intended to improve equality
If the government wishes to correct the existence of a negative externality, it could
A. grant subsidies to consumers to stimulate demand. B. impose a tax on the producers to reduce supply. C. grant subsidies to producers to reduce supply. D. impose taxes on consumers to stimulate demand.
Refer to the information provided in Scenario 22.5 below to answer the question(s) that follow.SCENARIO 22.5: The tiny nation of Bugaboo consists of two virtually identical islands, Achoo and Zoink, separated by the Strait of Dingo. The islands are similar in geography and population. The only telephone service on the islands is cellular, and the only cellular provider on the islands is the government-owned Bugaboo Communications Company, which charges a standardized rate of 20 Bugabucks per minute. Both islands add on an additional $5 Bugabucks-per-minute usage tax. As a way to increase revenue, the island governor of Zoink decided to increase the usage tax to $10 per minute, effective January 1, 2017. The average monthly cellphone usage per month is listed in the table below.?Average
Monthly Telephone Use per Resident (minutes)Island20162017Achoo4,5005,150Zoink4,8005,225Refer to Scenario 22.5. The total cost of telephone service for residents of Zoink in 2016 is ________ Bugabucks. A. 4,800 B. 24,000 C. 96,000 D. 120,000