Refer to Scenario 13.1. If Frank gets to set the agenda, he will pit ________ in the first round to assure that ________ wins the first round vote
A) calamari and jalapeno poppers; jalapeno poppers
B) jalapeno poppers and calamari; calamari
C) potato skins and calamari; potato skins
D) jalapeno poppers and potato skins; potato skins
B
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The imposition of all taxes, except a Pigouvian tax, leads to ________
A) an increase in consumer surplus B) an increase in producer surplus C) a fall in the price of the good D) a loss in total welfare
Refer to the figure above. What is the deadweight loss when the market is converted into a monopoly?
A) $0 B) $45 C) $90 D) $180
If the demand for a product is perfectly inelastic, a decrease in the price of the product
A) will not change total revenue. B) will decrease total revenue. C) will increase total revenue. D) any of the above are possible.
Of the three motives for holding money suggested by Keynes, which did he believe to be the most sensitive to interest rates?
A) the transactions motive B) the precautionary motive C) the speculative motive D) the altruistic motive