Refer to the table above. What is Seller 3's producer surplus?
A) $1
B) $2
C) $3
D) $4
A
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According to the circular flow model, an increase in spending by businesses on productive resources would cause the income and spending of consumers to increase
Indicate whether the statement is true or false
Which one of the following unexpected events ignited the 2009 euro crisis?
A) Accelerating hyperinflation and political upheaval. B) The prospect of a sovereign default by one or more euro zone countries. C) Rising oil prices. D) Revolutions in Switzerland and Belgium. E) A Chinese boycott of European products.
If the correlation between GDP and y is 0, we say y is
A) procyclical. B) acyclical. C) countercyclical. D) tricyclical.
Which of the following was one of the main rules in the 1990 "Budget Enforcement Act"?
A) flat tax rate B) PAYGO rule C) indexation of income tax brackets D) consumption tax E) none of the above