When a country that imports a particular good imposes a tariff on that good,
a. producer surplus increases and total surplus increases in the market for that good.
b. producer surplus increases and total surplus decreases in the market for that good.
c. producer surplus decreases and total surplus increases in the market for that good.
d. producer surplus decreases and total surplus decreases in the market for that good.
b
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Use the following diagram to answer the next question.
In the diagram, solid arrows reflect real flows and broken arrows are monetary flows. Flow (4) might represent
A. the purchase of stealth bombers. B. personal income taxes. C. investment spending by private corporations. D. the services of NASA astrophysicists.
In the above table, if the marginal factor cost is $200, how many workers would be hired?
A. 6
B. 5
C. 4
D. 3
If today the exchange rate is 1.00 euro per dollar and tomorrow the exchange rate is 0.98 euros per dollar, then the dollar ________ and the euro ________
A) depreciated; appreciated B) appreciated; depreciated C) depreciated; did not change D) appreciated; appreciated E) depreciated; depreciated
The marginal product of a variable input is calculated by dividing total product by the change in the variable input
Indicate whether the statement is true or false