Imports ________ consumer surplus, ________ producer surplus, and ________ total surplus
A) decrease; decrease; decrease
B) increase; increase; increase
C) increase; decrease; decrease
D) increase; decrease; increase
E) decrease; increase; increase
D
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The figure above shows one of Bob's indifference curves for CDs and books
a) Is the indifference curve steeper at point a or point b? b) What is Bob's marginal rate of substitution at point a? c) What is Bob's marginal rate of substitution at point b?
The aging of the U.S. population has tended to ________ spending on health care, and the development of new drugs and medical equipment has tended to ________ spending on health care
A) decrease; increase B) increase; decrease C) increase; increase D) decrease; decrease
The functional finance philosophy is based on the idea that balancing the federal budget is less important than using it to promote an economy operating at its potential
a. True b. False Indicate whether the statement is true or false
Which of the following statements best describes relative inflation?
a. If the country Economia experiences a relatively low inflation rate compared with other economies, then the buying power of its currency is eroding, which will tend to discourage anyone from wanting to acquire or to hold the currency. b. If the country Economia experiences a relatively high inflation rate compared with other economies, then the buying power of its currency is eroding, which will tend to discourage anyone from wanting to acquire or to hold the currency. c. If the country Economia experiences a relatively high inflation rate compared with other economies, then the buying power of its currency is increasing, which will tend to discourage anyone from wanting to acquire or to hold the currency. d. If the country Economia experiences a relatively low inflation rate compared with other economies, then the buying power of its currency is increasing, which will tend to discourage anyone from wanting to acquire or to hold the currency.