To sell an extra unit of output, a perfectly competitive firm ________, and an imperfectly competitive firm ________.
A. need not alter its price; must lower its price
B. must hope the market price falls; must lower its price
C. must lower its price; must lower its price
D. need not alter its price; need not alter its price
Answer: A
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The Gallatin Plan (1808) was not passed because some individuals questioned its constitutionality
Indicate whether the statement is true or false
Which of the following is defined as the percentage by which the entire set of a nation's trade barriers raises an industry's value added per unit of output?
A. Effective rate of protection B. Revenue effect C. One-dollar, one-vote metric D. Terms-of-trade effect
A consulting firm estimates the following quarterly sales forecasting model:Qt = a + bt +cDThe equation is estimated using quarterly data from 2005 I - 2015 III (t = 1,..., 43). The variable D is a dummy variable for the second quarter where: D = 1 in the second quarter, and 0 otherwise. The results of the estimation are: 
Using the estimated trend line above, what is the predicted level of sales in 2015 IV ?
A. 104.34 B. 106.20 C. 102.2 D. 110.06 E. none of the above
Taxes are increased by $50 billion and income decreases by $300 billion. The value of the tax multiplier is
A. -3. B. -5. C. -6. D. -15.