The American Recovery and Reinvestment Act of 2009 provided ________
A) tax cuts of $288 million and a government spending increase of $499 million
B) tax cuts of $288 million and a government spending increase of $499 billion
C) tax cuts of $288 billion and a government spending increase of $499 billion
D) tax cuts of $288 trillion and a government spending increase of $499 trillion
C
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Wealthy people will tend to have vertical labor supply curves
A) only if their income effect just offsets their substitution effect. B) only if their income effect is greater than their substitution effect. C) only if their income effect is less than their substitution effect. D) only if they don't have an income effect.
The worst remedy for curing the U.S. trade deficit is to
a. increase U.S. personal saving. b. reduce the budget deficit. c. encourage all nations to lower trade barriers. d. limit imports by imposing tariffs, quotas, and other trade restrictions.
Use the following graph for a pure monopoly operating in the short run to answer the next question.
At the profit-maximizing level of output, this firm ________.
A. faces a total fixed cost equal to the area of BEFC B. should shut down C. generates a loss per unit equal to DE D. generates an economic profit equal to the area of ABED
Which of the following is an example of a public good?
A. Amtrak rail transport services B. the provision of medical care C. services of the U.S. Post Office D. the provision of national defense