Suppose Max values a concert ticket at $45 . Charles values the same concert ticket at $40 . The pre-tax price of a concert ticket is $30 . The government imposes a tax of $5 on each concert ticket, and the price rises to $35 . The deadweight loss from the tax is
a. $15.
b. $10.
c. $5.
d. $0.
d
Economics
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The theory that real shocks to the economy are the primary cause of business cycles is
A) monetarism. B) Keynesian theory. C) real business cycle theory. D) Hamiltonian theory.
Economics
According to the classical dichotomy, which of the following is affected by monetary factors?
a. nominal wages b. the price level c. nominal GDP d. All of the above are correct.
Economics
Refer to the above table. What is the GDP price index in Year 1?
105.2 111.5 108.3 109.6
Economics
The United States has roughly how much of the world's population?
A. 10 percent. B. 15 percent. C. 20 percent. D. 5 percent.
Economics