Suppose consumers save 3 percent of their incomes. If the government collects 1 dollar in taxes from each taxpayer, private saving will ________ per taxpayer.
A. decrease by 3 cents
B. decrease by 97 cents
C. increase by $1
D. increase by 97 cents
Answer: A
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The structural deficit can be used to estimate the thrust of current fiscal policy.
Answer the following statement true (T) or false (F)
Henry Ford
A. was the second automobile manufacturer to use a moving assembly line. B. was the first automobile manufacturer to manufacture a standardized engine with interchangeable parts. C. sold millions of cars at a small unit of profit that allowed his company to keep auto prices low and wages high. D. all of the statements are true.
Figure 4-25
Refer to . Producer surplus before the tax was levied is represented by area
a.
A.
b.
A + B + C.
c.
D + E + F.
d.
F.
Suppose that a technological advancement substantially reduces the cost of laser eye surgery. This would cause the equilibrium:
A. price of technology to increase. B. quantity of technology to decrease. C. quantity of laser eye surgery to increase. D. quantity of laser eye surgery to decrease.