The crowding out effect refers to the ________ from ________ in the government's budget deficit
A) decrease in employment; an increase
B) decrease in investment; an increase
C) increase in investment; an increase
D) increase in consumption; an increase
E) decrease in consumption; a decrease
B
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Assume that a consumer purchases a combination of products X and Y and MUx / Px = 75 utils per dollar and MUy / Py = 50 utils per dollar. To maximize utility without spending more dollars, the consumer should buy:
a. more of both X and Y. b. less of Y only if the price of Y increases. c. more of Y and less of X. d. more of X and less of Y. e. less of both X and Y.
In what market type does an individual firm face a perfectly elastic demand curve?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly
A customs duty is
a. a tax in the form of a percentage of the value of the good taxed b. a fixed tax in the form of cents or dollars per unit of the good c. a sales tax applied to a foreign good d. any tax levied on a good e. the same as a poll tax
Give an example, not similar to the text material, where you erroneously took sunk costs into account where it was inappropriate to do so.
What will be an ideal response?