Those who favor government policies to stimulate the economy by creating incentives for individuals and businesses to increase their productive efforts are supporting:
A. supply-side economics.
B. Keynesian economics.
C. monetarist economics.
D. Marxian economics.
Answer: A
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The marginal cost to a grocer of selling avocados, which would have to be thrown away if they are not sold immediately, is approximately
A) the overhead cost per avocado sold. B) the price of replacing the inventory. C) their wholesale purchase price. D) zero.
The above figure shows the market for blouses. The government decides to impose the sales tax on sellers, as shown in the figure. The amount of the tax paid by the sellers would be greater than shown in the figure if
A) the demand was more elastic. B) the demand was more inelastic. C) the supply was more elastic. D) Both answers A and C are correct.
An individual perfectly competitive firm has a supply curve
A) with a positive slope. B) with a negative slope. C) that is parallel to the quantity axis. D) that has a positive slope at lower output levels and a negative slope at higher output levels.
The Dodd-Frank Act requires that each member of the board of directors personally certify the accuracy of financial reports
Indicate whether the statement is true or false