Lowering tax rates was the main priority of the
A. classicals.
B. Keynesians.
C. monetarists.
D. supply-siders.
D. supply-siders.
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The figure above shows the U.S. demand and the U.S. supply curves of canned peaches
a. In the absence of trade, what is price of canned peaches in the United States? b. In the absence of trade, what is the level of production in the United States? c. If the world price of canned peaches is $1 a can and the United States engages in trade, does the United States import or export canned peaches? d. If the world price of canned peaches is $1 a can and the United States engages in trade, what is the quantity produced in the United States and what is the quantity consumed? What is the quantity imported or exported? e. If the world price of canned peaches is $2 a can and the United States engages in trade, does the United States import or export canned peaches? f. If the world price of canned peaches is $2 a can and the United States engages in trade, what is the quantity produced in the United States and what is the quantity consumed? What is the quantity imported or exported?
Consuming goods until the ratio of marginal utilities of the goods is equal to the ratio of their prices is consistent with maximizing total utility
a. True b. False
The difference between what a productive resource receives as payment for its use in production and the cost of bringing that resource to the market is called profit
Indicate whether the statement is true or false
The trade in goods, services, and capital around the world comprises:
A. millions of dollars. B. trillions of dollars. C. a small amount in dollar value. D. billions of dollars.