The government's benefit from a tax can be measured by
a. consumer surplus.
b. producer surplus.
c. tax revenue.
d. All of the above are correct.
c
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Industrialized countries typically ________ their floating exchange rates. Developing countries often ________ their floating exchange rates
A) manage; peg B) peg; manage C) allow markets to determine; fix D) fix; manage E) fix; allow markets to determine
How does the dictator game differ from the ultimatum game? a. The responder can dictate whether the offer is accepted or not
b. The responder has no choice but to accept the proposal. c. The experimenter takes over the proposer's role, inserting an offer designed to test a hypothesis. d. If the responder rejects, the proposer obtains the whole "pie."
When the money supply is expanding and prices rise rapidly, economic growth
What will be an ideal response?
According to the market demand curve, what would consumers in this market most likely do if the price per pound decreased from $3 to $1?
a. They would decrease their purchases of coffee by about half the amount.
b. They would decrease their purchases of coffee by one third the amount.
c. They would increase their purchases of coffee by more than double the amount.
d. They would increase their purchases of coffee by less than double the amount.