An example of an upper-middle income country is
a. India.
b. Brazil.
c. Indonesia.
d. Nigeria.
B
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Use the figure below to answer the following question.
What area represents society's total surplus after the government imposes the excise tax on the market?
A. triangle $1c$9 plus triangle $21a$13 B. triangle abc C. square $13ac$9 plus triangle abc D. triangle $1c$9 plus triangle $21a$13 plus rectangle $13ac$9
The following graph is the production possibility curve for a three-person economy, with workers Janna, Drew, and Karl.
The slope of the PPC between points X and Y is determined by ________ opportunity cost.
A. Janna's B. Kari's C. Drew's D. Janna and Drew's
If a union is able to successfully lobby Congress to limit imports of rival products, and thus to raise the demand (and thus price) for the goods or services they make, then which of the following best describes the outcome?
A. The supply of labor will increase. B. The demand for labor will increase. C. The supply of labor will decrease. D. The demand for labor will decrease.
If the MPS is 0.3, the MPC is
A. -0.3. B. 0.7. C. 1. D. 1.3.