Suppose the government increases spending on public education by $700 million and individual spending on private education drops by $500 million. This is an example of
A) incomplete crowding out.
B) complete crowding out.
C) zero crowding out.
D) a and c
E) none of the above
A
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A) substitute; higher B) substitute; lower C) complement; higher D) complement; lower
Refer to Table 18-6. Calculate the income tax paid by Sasha, a single taxpayer with an income of $60,000
A) $22,800 B) $14,400 C) $13,800 D) $13,642
Table 11-1 Quantity (units)18161412104Price per unit (dollars)123 4 5 6 Total cost (dollars)44 3832262014Table 11-1 shows demand and total cost schedules for the monopolist Monopoliteria. Monopoliteria’s profit-maximizing price per unit in dollars is
A. 1 B. 3 C. 5 D. 4 E. 6
Lucy is a young entrepreneur who sells lemonade from her lemonade stand in her driveway on Saturday afternoons. During the first hour, Lucy sells 30 glasses of lemonade and incurs an average variable cost of $0.20. Lucy's _________ for the first hour are __________
Fill in the blank(s) with the appropriate word(s).