To obtain GDP from a national income base,
a. add indirect business taxes and Social Security taxes
b. add capital depreciation and Social Security taxes
c. add indirect business taxes and personal taxes
d. subtract indirect business taxes and capital depreciation
e. add indirect business taxes and capital depreciation
E
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Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. What will the market price be?
A) > $24 B) $24 C) $30 D) $54
The figure above represents the demand and cost functions facing a Brazilian Steel producing monopolist. If it were unable to export, and was constrained by its domestic market, what quantity would it sell at what price?
What will be an ideal response?
Germany and Japan pay a higher price for raising capital because of
A) having rather illiquid securities markets. B) unresolved stockholder-lender and manager-stockholder conflicts. C) allowing banks to hold substantial ownership shares in large firms. D) shutting large firms out of those securities markets.
To maximize utility, a consumer should allocate money income so that the:
A. elasticity of demand on all products purchased is the same. B. marginal utility obtained from the last dollar spent on each product is the same. C. total utility derived from each product consumed is the same. D. marginal utility of the last unit of each product consumed is the same.