A line that has a different slope at each point is a:
a. curve. b. straight line.
c. vertical line. d. horizontal line.
a
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If the Naval Research Laboratory fired a chemist and the Environmental Protection Agency hired her at the same salary, the net effect of these events would cause _____ in aggregate demand
a. an increase b. an increase c. a decrease d. a decrease e. no change
______ has taken on some negative political connotations because more international trade and more immigration inevitably creates some losers as well as many winners.
A. Globalization B. Protectionism C. Competition D. None of the above is correct.
Choose the statement that is correct.
A. The ability-to-pay principle can justify high fuel taxes to pay for freeways and high taxes on alcoholic beverages and tobacco products to pay for public health care. B. The ability-to-pay principle results in a tax system that is efficient and fair. C. The benefits principle is a fair arrangement because it means that those who benefit most pay the most taxes. D. The benefits principle results in a tax system that is efficient and fair.
For a firm in a perfectly competitive market, price is
A) equal to both average revenue and marginal revenue. B) equal to average revenue but greater than marginal revenue. C) greater than marginal revenue but less than average revenue. D) less than both average revenue and marginal revenue.