The figure above shows that the government revenue from the tariff is
A) $20 million per year.
B) $30 million per year.
C) $15 million per year.
D) $55 million per year.
E) zero.
A
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Which of the following statements regarding the production possibilities frontier is TRUE?
A) Points outside the frontier are attainable. B) Points inside the frontier are attainable. C) Points on the frontier are less efficient than points inside the frontier. D) None of the above because all of the above statements are false.
All else equal, false advertising is more prevalent in all of the following types of communities except which one?
A) a resort town B) a college campus C) a tourist destination D) a small town with few visitors
Which of the following is a predictable, secondary effect of a sharp increase in gasoline prices?
a. Producers will increase the production of fuel-efficient cars. b. The federal government will place a quota on the number of fuel-efficient cars for sale, thus "forcing" consumers to purchase the gas guzzling vehicles. c. the termination of research on the cost-effectiveness of alternative fuels to power automobiles. d. Producers will increase the production of gas guzzling vehicles.
In the second quarter of 1995, the following values were observed: real GDP = 4,359.3 billion; GDP deflator = 325.1; and M1 = 989.5. What is the value of velocity?
A. 32.51 B. 24.31 C. 14.32 D. 2.31