The above figures show the market for gasoline. Which figure(s) shows the effect of a new U.S. tax on oil that suppliers must pay?
A) Figures A and C
B) Figures B and D
C) Figure A only
D) Figure C only
D
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If the government has a budget deficit, crowding out might occur. Crowding out leads to all of the following EXCEPT
A) a higher real interest rate. B) a decreased quantity of investment. C) a smaller capital stock in the future. D) decreased private saving.
The primary current deficit is
A) current expenditures - tax revenues. B) current expenditures + transfers + net interest - tax revenues. C) current expenditures - net interest - tax revenues. D) current expenditures + transfers - tax revenues.
If Nate takes out a $5,000 loan for one year at 10 percent annual interest, the principal is:
A. $5,000. B. $5,500. C. $500. D. $1000.
Process innovation causes an upward shift in a firm's total product curve and:
A. a decrease in its average product. B. a downward shift in its average total cost curve. C. an upward shift in its average total cost curve. D. an upward shift in its marginal revenue curve.