The difference between a country's merchandise exports and its merchandise imports is the
A. balance of trade.
B. current account.
C. capital account.
D. balance of payments.
Answer: A
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Ricardian equivalence implies
A) that when the government borrows more, the market real interest rate goes up. B) that if the government saves less, then the nation saves less. C) that when taxes are cut people consume more. D) that consumers will save their tax cuts to pay their future taxes.
When graphed, total fixed cost will
a. slope upward to the right at a constant positive slope b. first decrease and then increase c. first increase and then decrease d. slope down forever e. be a horizontal line
Janelle earned a salary of $40,000 in 1996 and $65,000 in 2006 . The consumer price index was 160 in 1996 and 266 in 2006 . Janelle's 2006 salary in 1996 dollars is
a. $39,097.74. b. $43,062.50. c. $68,900.00. d. $108,062.50.
If the price of milk shakes was $3.00 each, your consumer surplus would be
Demand and Utility Table for Milk Shakes
A. $10.50.
B. $6.00.
C. $3.50.
D. $1.50.