In the figure above, point B is ________
A) on the x-axis
B) on the y-axis
C) at the origin
D) a coordinate
A
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If the supply curve of cigarettes shifts to the left, quantity demanded for cigarettes
A) will decrease substantially. B) will increase substantially. C) will slightly increase. D) will slightly decrease.
In determining whether a market meets the conditions for perfect competition, it is necessary to
A. consider the number of firms in the market. B. determine the appropriate size of the firm. C. assess the production technology available to firms. D. evaluate the promotional tools that can be used by firms.
The most prevalent type of damage associated with hazardous waste sites is
a. water and soil contamination b. loss of livestock c. fish kills d. air pollution
A $10 billion reduction in taxes increases Real GDP by $60 billion. Assuming a constant price level, what does the tax multiplier equal?
A) 70 B) 6 C) 50 D) 0.17 E) 0.83