Which of the following is a macroeconomic policy?
A. Regulations limiting automobile emissions.
B. Requiring locks on all guns.
C. Tax cuts to bring the federal budget into balance
D. How an early freeze in California will affect the price of fruit.
Answer: C
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Christy's Haircuts, the sole supplier of haircuts in a small town, faces the demand schedule shown in the table above. What is Christy's marginal revenue from the 25th haircut?
A) zero B) $5.00 C) $17.50 D) $50.00
Refer to Table 9-11. Which country has a comparative advantage in producing hats?
A) Denmark B) Belize C) both countries D) neither country
The greatest number of recent immigrants to the U.S. come from Mexico because of:
a. political insecurity in Mexico. b. religious insecurity in Mexico. c. proximity and wage differentials. d. racial discrimination in Mexico. e. greater social security in the United States.
If the government owns a nationalized firm, the prices are
a. set by an administrative agency of the government b. set by the free market c. high enough to make economic profits for the government d. determined by competition e. set to encourage efficiency and reduce waste