A federal surplus is deflationary when all else is held constant
Indicate whether the statement is true or false
True
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A statement that "All children should receive free health care" is an example of what kind of statement?
A) a fair statement B) a natural experiment statement C) a normative statement D) a positive statement E) a statement on the margin
When the dollar strengthens,
A) exports will increase and U.S. consumers benefit. B) imports will increase and U.S. consumers benefit. C) exports will decrease and U.S. exporters benefit. D) exports will increase and U.S. exporters gain.
In a market with a fixed number of firms, as long as price is above average
a. variable cost, each firm's marginal-cost curve is its supply curve. b. variable cost, each firm's average-total-cost curve is its supply curve. c. total cost, each firm's marginal-cost curve is its supply curve. d. total cost, each firm's average-total-cost curve is its supply curve.
The figure below illustrates a tariff. On the graph, Q represents quantity and P represents price.
Figure 17-11
Refer to Figure 17-11. The tariff
a.
decreases producer surplus by the area C and decreases consumer surplus by the area C + D + E + F.
b.
decreases producer surplus by the area C + D and decreases consumer surplus by the area D + E + F.
c.
increases producer surplus by the area C and decreases consumer surplus by the area C + D + E + F.
d.
increases producer surplus by the area B + C and decrease consumer surplus by the area D + E + F.