When a government imposes a tariff on imported beer, cooperative surplus ________ and society gets ________
A) increases; richer
B) increases; poorer
C) decreases; richer
D) decreases; poorer
D
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An economy produces only 1,000,000 computers valued at $2,000 each. Of these, 200,000 are sold to consumers, 300,000 are sold to businesses, 300,000 are sold to the government, and 100,000 are sold abroad. No computers are imported. At the end of the year, the computer manufacturers hold the unsold computers in inventory. What is the value of GDP?
A. $2.0 billion B. $0.9 billion C. $1.0 billion D. $1.8 billion
What is one reason car dealerships might move away from perfect price discrimination to uniform pricing?
A) Perfect price discrimination doesn't work. B) Transaction costs erode the profit of perfect price discrimination. C) Consumers are ill-informed and tend to complain too much. D) Uniform pricing is always more profitable and more fair as well.
A competitive firm's supply curve is identical to its marginal cost curve
Indicate whether the statement is true or false
The effect on business of the crowding-out effect in the short run would be reflected by ______.
Fill in the blank(s) with the appropriate word(s).