From 2004 to 2008, the federal budget deficit, on an official fiscal-year basis was
a. large and growing larger.
b. "negative," that is, the budget was in surplus.
c. declining.
d. increased by the rising Social Security deficit.
c
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How did the increased speed of computers affect the labor market for computer game designers?
A. Decreased wages and increased employment. B. Increased wages and decreased employment. C. Increased wages and increased employment. D. Decreased wages and decreased employment.
Consider the budget line in the above figure. If the consumer has income of $240, what is the relative price of movies?
A) .42 books B) 2.4 books C) $10 per movie D) $24 per movie
A monopolist faces a demand curve Q = 120 - 2p and has costs given by C(Q) = 20Q + 100
a. Write the monopolist's profits in terms of the price it charges. b. Use the derivative (w.r.t. price) to determine the monopolist's profit-maximizing price. c. Now, derive the monopolist's inverse demand based on the demand equation above. Write out the monopolist's profits in terms of quantity. d. Use the derivative w.r.t. Q to determine the monopolist's optimal quantity. What price does the monopoly charge?
In some rural regions of the United States, residents harvest much of their food supplies directly from nature by hunting, fishing, and gathering. With regard to these subsistence activities: a. GDP will overestimate the true value of the nation's production of final goods and services
b. GDP will underestimate the true value of the nation's production of final goods and services only when the income approach is used. c. GDP will correctly estimate the true value of the nation's production of final goods and services. d. GDP will underestimate the true value of the nation's production of final goods and services.