A firm can choose a quantity of output, and the price is then determined by
a. the government.
b. the supply schedule.
c. consumers' demand.
d. the average cost.
c
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Refer to Figure 16-7. Given that the economy has moved from A to B in the graph above, which of the following would be the appropriate fiscal policy to achieve potential GDP?
A) decrease interest rates B) increase government spending C) contractionary fiscal policy D) increase taxes
In economic terms, what is the main reason why the standard of living is higher today than it was 100 years ago?
a. Governments have learned how to control the economy. b. A smaller number of people are living paycheck to paycheck. c. Sustained economic growth leads to higher living standards. d. In general, people are living longer, healthier, and happier lives.
Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. Assume that initially there is free trade. The quantity demanded of CD-Rom drives will be reduced by 3 million CD-Rom drives if the United States imposes ________ tariff per CD-Rom drive on imported CD-Rom drives.
A. no B. a $10 C. a $15 D. a $25
From 1995 to 2013, the share of revenue to public institutions of higher education attributable to tuition
A. increased to 5% from 26%. B. remained constant. C. increased to 41% from 29%. D. decreased to 29% from 41%.