Consider the above figure. The curve shown is sometimes referred to as
A) the Laffer curve.
B) the Ricardian curve.
C) the Keynesian curve.
D) the Phillips curve.
A
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Sharing music files is not a(n)
a. victimless crime b. example of decisions about the use of capital c. issue regarding intellectual property d. current problem e. important issue for the Recording Industry of America
The form of public debt that matures in 3, 6, or 12 months is
a. Treasury bond b. Treasury bill c. Treasury note d. U.S. savings bond e. U.S. savings bill
The typical economic life cycle illustrates how people tend to
a. borrow more when they are younger and save more when they are middle-aged. b. earn their peak incomes immediately prior to the typical retirement age of 65. c. adjust their consumption based on changes in their transitory income. d. All of the above are correct.
In a perfectly competitive market, if all firms face identical, constant marginal cost curves, then consumer surplus is
A) the area beneath the market demand curve and above the market clearing price. B) the area above the market demand curve and above the market clearing price. C) the total area beneath the market demand curve. D) definitely zero.