Based on the following information, what is the amount of public saving? ReceiptsExpendituresFederal Government2,5002,000State and Local Governments1,5001,500
A. +2,500
B. -300
C. +200
D. +3,700
Answer: C
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Lower personal income taxes
A) decrease disposable income. B) decrease aggregate demand. C) increase transfer payments. D) increase aggregate demand.
What happens to the demand for a good if a complement's price increases?
A) The demand increases and the demand curve shifts rightward. B) The demand decreases and the demand curve shifts rightward. C) The demand increases and the demand curve shifts leftward. D) The demand decreases and the demand curve shifts leftward. E) There is no impact on demand for the good and the demand curve does not shift.
Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What is her economic profit?
A) $12,000 B) $56,000 C) $86,000 D) $98,000
Explain the nature and consequences of asymmetric information for each of the following cases. What options are available in each instance to reduce the problem?
a. medical insurance b. issuance of credit cards c. professional athletes d. market for used appliances