A) $600
B) $800
C) $350
D) $700
In 2011, the per capital output of goods and services in the United States was approximately
a. $15,000.
b. $45,000.
c. $8,000.
d. $25,000.
b. $45,000.
Economics
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Suppose a firm can only vary the quantity of labor hired in the short run. An increase in the cost of capital will
A) increase the firm's marginal cost. B) decrease the firm's marginal cost. C) have no effect on the firm's marginal cost. D) More information is needed to answer the question.
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If the government wants to raise tax revenue and shift most of the tax burden to the consumers, it would impose a tax on a good with a
a. flat (elastic) demand curve and a steep (inelastic) supply curve. b. steep (inelastic) demand curve and a flat (elastic) supply curve. c. steep (inelastic) demand curve and steep (inelastic) demand curve. d. flat (elastic) demand curve and a flat (elastic) supply curve.
Economics
The Sherman Anti-Trust Act gave the U.S. government the power to control
a. monopolies b. public utilities c. the postal service d. the stock market
Economics