Which of the following would be a deadweight loss from a tariff?
A) The shift of consumer surplus to government
B) The increase in producer surplus
C) The decrease in consumer surplus
D) The decrease in consumer surplus due to a drop in consumption
D
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One of the differences between microeconomics and macroeconomics is the use of fiscal policy. Fiscal policy is conducted by:
a. local banks. b. a nation’s central bank. c. a nation’s legislative body. d. a state’s legislative body.
If Y = $100 billion, then C = $50 billion, and I = $60 billion. What will autonomous investment be when Y = $200 billion and C = $100 billion?
A. $50 billion B. $60 billion C. $100 billion D. $120 billion
Suppose consumers and business decision makers become more optimistic about the future, and aggregate expenditures increase. The most likely result is that:
A. real GDP and employment and income to decline. B. real GDP and employment rise. C. real GDP rises and employment falls. D. real GDP falls and employment rises.
A firm is experiencing ________ on the upward-sloping portion of a firm's long run average cost curve.
A. diminishing marginal returns B. decreasing returns to scale C. increasing returns to scale D. constant returns to scale