In the Keynesian range, the:
a. Aggregate supply curve is vertical.
b. Aggregate supply curve is horizontal.
c. Aggregate demand curve is vertical.
d. Aggregate demand curve is horizontal.
e. Aggregate demand is downward-sloping.
.B
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Japan imposes a tariff on imported rice. In Japan, surplus will be redistributed from
A) consumers to producers and government. B) consumers to producers. C) consumers to government. D) government to producers.
Given the table below, what is the short-run profit-maximizing level of output for the firm?OutputTotal RevenueTotal Cost1$4$22833126416952014
A. 5 units B. 4 units C. 2 units D. 3 units
With respect to each of the following issues, explain whether floating or fixed exchange-rates would be better and why it would be better.a. Internal monetary shocksb. External macroeconomic shocksc. A need for diversity in macroeconomic goals and policies across countries
What will be an ideal response?
Refer to the information provided in Figure 16.4 below to answer the question(s) that follow.Los Angeles International Airport (LAX) is located next to Playa Del Rey. The noise from air traffic negatively affects individuals living in Playa Del Rey, however, this cost is not considered by airlines or air travelers. The airlines feel they have a right to use the airspace while the individuals living in Playa Del Rey feel they have the right to quiet. The following diagram depicts the marginal costs and marginal benefits associated with air travel.
Figure 16.4Refer to Figure 16.4. Suppose the government assigns property rights to the residents of Playa Del
Rey, then the airlines and the residents engage in negotiations. The ________ of air travel is 100 units. A. resulting efficient level B. government-regulated level C. maximum allowable level D. minimum allowable level