If the price index last year was 1.0 and today it is 1.4, what is the inflation rate over this period?
A. 40%
B. 4%
C. -4%
D. 1.4%
Answer: A
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Use the figure below to answer the following question.
What is the amount of total surplus without the excise tax?
A. $100 B. $32 C. $4 D. $80
Which of the following is an example of price discrimination?
a. Seniors paying a lower price for tickets at movie theatres b. Students paying discounted rates on travel c. Tourists paying higher prices on local attractions than locals d. All of the above
If the national debt is owned by domestic citizens:
a. the debt will not have to be repaid. b. future interest payments transfer funds from one group of Americans to another. c. the debt will have to be repaid first to domestic creditors, then to foreign creditors. d. future interest payments will go to pay foreign debt first, then debt owed to American citizens.
If a tax is levied on the sellers of a product, then the demand curve will
a. shift down. b. shift up. c. become flatter. d. not shift.