Refer to Figure 11.2. Suppose that Ca = 40, MPC = 0.8, I = 10. What is the value of consumption in equilibrium?
A) 32 B) 80 C) 240 D) 320
C
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Refer to Figure 13.2. If Oliver's political views place him at the L4 position and George's political views place him at the C4 position, Cindy's preference for mayor is
A) Oliver Cousins. B) George Glass. C) Cindy is indifferent between the two candidates. D) Cindy definitely does not like either candidate.
The imposition of a tax on a good enables the government to
A) raise the price received by sellers of the goods that have been taxed. B) lower the price paid by buyers for the goods that have been taxed. C) create a more efficient economic system. D) take part of consumer and producer surplus as tax revenue when the good is purchased. E) decrease the deadweight loss in this market.
A quota is a numerical limit on the quantity of a good that can be imported
Indicate whether the statement is true or false
The theory of ___________ concludes that by reacting to the expected effects of a stabilization policy, the public will tend to negate the impact of that policy.
Fill in the blank(s) with the appropriate word(s).