Refer to Figure 1-5. Calculate the area of the triangle A
A) $8.4 million B) $6.3 million C) $3.15 million D) $2.1 million
C
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When a nation joins the IMF, it deposits funds into an account. These funds have a value based on a weighted average of
A) the Russian ruble, the British pound sterling, the Japanese yen, and the U.S. dollar. B) the euro, the British pound sterling, the Japanese yen, and the U.S. dollar. C) the Russian ruble, the British pound sterling, the Chinese yuan, and the U.S. dollar. D) the euro, the British pound sterling, the Chinese yuan, and the U.S. dollar.
Sharon consumes 10 chocolates when the price of one chocolate is $2. If her arc elasticity of demand for chocolates is -1, she consumes ________ chocolates when the price increases to $4
A) 5 B) 6 C) 8 D) 9
A temporary increase in government spending that leads to only a small decline in lifetime wealth likely shifts the output demand curve to the
A) right by more than the rightward shift in output supply. B) right by less than the rightward shift in output supply. C) left by more than the leftward shift in output supply. D) left by less than the leftward shift in output supply.
The external costs of alcohol consumption are related to, among other things, death and injury related to auto accidents caused by drunk drivers. These costs have been estimated to be about 47 cents per ounce of alcohol consumed. Taxes on alcohol amount to 23 cents per ounce. This suggests that alcohol consumption is (i) greater than the efficient or optimal amount; (ii) should be reduced to zero to eliminate the externality.
A. i and ii B. i not ii C. ii not i D. neither i nor ii