Consider a market in which there is an import tariff. Which of the following is TRUE?
A) The lost consumer surplus equals the gain in producer surplus plus the government revenue plus the deadweight loss.
B) The lost consumer surplus equals the gain in producer surplus.
C) The lost consumer surplus equals the gain in producer surplus plus the government revenue.
D) The lost consumer surplus plus the deadweight loss equal the gain in producer surplus plus the government revenue.
A
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Price elasticity of demand along a linear, downward-sloping demand curve decreases as price falls
a. True b. False Indicate whether the statement is true or false
Which of the following economies has the largest multiplier?
A. Economy A with an MPS of 0.08 B. Economy B with an MPS of 0.12 C. Economy C with an MPC of 0.94 D. Economy D with an MPC of 0.70
How much is it?
Discouraged workers
A. are primarily manufacturing employees who have been displaced by machinery. B. are comprised mainly of the cyclically unemployed, laid off because of recession. C. are people who have stopped looking for work because they believe they will not be able to find employment. D. are those workers who leave regular employment and work in the underground economy. E. are temporarily between jobs.