If the government runs a deficit, which of the following will be true?
a. T > G - TR
b. T < G - TR
c. T > G + TR
d. T < G + TR
d
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Only individuals choose, which means
A) only individuals exist. B) collectives do not exist. C) only individuals can assess the expected costs and benefits of an action. D) all of the above.
Entry of new firms into an existing market causes:
A) an upward movement along the market supply curve. B) a downward movement along the market supply curve. C) a rightward shift of the market supply curve. D) a leftward shift of the market supply curve.
Why might policymakers attempts to stabilize the economy do more harm than good?
At a price of $18, the marginal revenue of a movie seller is $12. If the marginal cost of a movie is $9, the firm should increase its price.
Answer the following statement true (T) or false (F)