If I = S, then
A) C + I = S + I.
B) C + S = S + I.
C) C + S = C + I.
D) C - S = S - I.
C
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Suppose the cost to Tim of a third glass of soda is zero because he's at a restaurant that gives free refills. According to the Cost-Benefit Principle Tim should:
A. drink a third glass of soda. B. drink a third glass of soda if the benefit of doing so is positive. C. not drink a third glass of soda. D. drink a third glass of soda if his benefit from drinking his second glass of soda was positive.
From 1800-1860 which part of the nation most supported high tariffs?
a. Southeast. b. New England. c. Southwest. d. Far Western States.
If expected inflation is 2%, the real interest rate is 7% and the economy is growing at a rate of 4%, the nominal interest rate is equal to
a. 9% b. 5% c. 7% d. 6% e. none of the above
Balin's Burger Barn operates in a perfectly competitive market. Balin's is currently earning economic profits of $20,000 per year. Based on this information, we can conclude that
A) Balin's is operating in the short run, but not the long run. B) Balin's is operating in the long run. C) Balin's profits will discourage new firms from entering. D) Balin's will increase its market price over the counting months.