Which of the following would economic freedom lead to?
a. A higher standard of living
b. Better living conditions
c. Longer life expectancy
d. Better education
e. All of these
e
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An economic expansion tends to cause the federal budget deficit to ________ because tax revenues ________ and government spending on transfer payments ________
A) increase; rise; falls B) decrease; rise; falls C) decrease; fall; rises D) increase; fall; rises
Cecilia's Café is in a competitive price-searcher market. Cecilia's is currently producing where average total cost is at its minimum, and Cecilia's is earning a positive economic profit. In the long run we would expect Cecilia's output to
a. decrease and average total cost to be higher. b. decrease and average total cost to be lower. c. remain unchanged as Cecilia's is doing the best it can. d. increase and average total costs to be lower.
If the demand for tennis shoes increases and a firm's supply curve is upward sloping, then:
A. producer surplus decreases. B. producer surplus does not change. C. producer surplus increases. D. producer surplus may either increase or decrease.
Trade policies in which industries have been the most contentious in the Doha Round?
What will be an ideal response?