Refer to the figure above. The region BAH represents the ________
A) consumer surplus after taxation
B) tax incidence on consumers
C) tax incidence on producers
D) deadweight loss due to taxation
D
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If Honda (a Japan-based firm) produces a car in Ohio and exports it to Japan, in which country's GDP will the car be counted?
a. Japan's, because Honda is a Japanese company b. Japan's because that is where the car is purchased c. The GDP of the United States because that is where it was built d. Both Japan and the United States
In several years, bondholders may lose confidence in the United States willingness to pay back funds.
Answer the following statement true (T) or false (F)
In a free market, if the price of a good is below the equilibrium price, then;
A. sellers, dissatisfied with growing inventories, will lower their prices. B. sellers, dissatisfied with growing inventories, will raise their prices. C. the government will set a higher price to reestablish the market equilibrium. D. buyers, hoping to ensure they acquire the good, will bid the price higher.
Gdp:
a. is the dollar value of all the final goods and services produced within the borders of a nation. b. includes intermediate and final goods and services. c. minus an allowance for depreciation of fixed capital equals GNP. d. is a less-than-perfect measure of social well-being because it does not include exports and imports. e. all of these.