In the above figure, what is the marginal social benefit of the four-hundredth pretzel?
A) $0
B) $2.00
C) $3.00
D) $4.00
B
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Firms that extend credit to borrowers using funds from raised from savers are called:
A. financial intermediaries. B. stock brokers. C. bond dealers. D. central banks.
The aggregate demand curve illustrates that, as the price level rises
A) the quantity of real GDP demanded increases. B) the quantity of real GDP demanded decreases. C) the AD curve shifts rightward. D) the AD curve shifts leftward.
Explain the infant industry argument case against free trade
What will be an ideal response?