Efforts to balance the federal government's budget by raising taxes provided a buffer to the economic downturn of the Great Depression
Indicate whether the statement is true or false
False
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The formula for the government spending multiplier is
A) (1 + b) / (1 - b). B) -b / (1 - b). C) 1 / (1 - b). D) b / (1 - b).
According to the HO model,
A) everyone automatically gains from trade. B) the gainers from trade outnumber the losers from trade. C) the scarce factor necessarily gains from trade. D) None of the above.
If a firm sells to two distinct identifiable markets and resale is impossible, why is price discrimination more profitable than setting a single price?
What will be an ideal response?
Refer to the following graph.
This set of cost curves is:
A. correct. B. wrong because the average fixed cost curve is drawn incorrectly. C. wrong because the average fixed cost curve is shown to be below the average variable cost. D. wrong because the average total cost and the marginal cost curves are reversed.