When inflation is less than anticipated inflation,
What will be an ideal response?
lenders gain at the expense of borrower
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What is the impact of a government subsidy to producers?
A) Less is produced relative to the efficient level, creating a deadweight loss. B) More is produced relative to the efficient level, creating a deadweight loss. C) Producer surplus is increased, which creates a larger consumer surplus. D) Producers are able to sell the product at a higher price. E) Consumers must pay a higher price for the good.
List the two characteristics that define a public good
What will be an ideal response?
The following graph shows average fixed costs, average variable costs, average total costs, and marginal costs of production.
In the graph shown, the marginal cost curve is represented by which curve?
A. I B. II C. III D. IV
Thinking at the margins means deciding about
a. maximizing goods and services. b. investing with borrowed money. c. adding or subtracting one additional unit of some resource. d. increasing or decreasing technical know-how.