Tsintah weaves traditional Navaho rugs. She weaves and sells 50 rugs. Her average cost of production per rug is $50 . She sells each rug for a price of $65 . Tsintah's total revenues are
a. $750.
b. $2,500.
c. $3,250.
d. $5,750.
c
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From time to time, the Federal Reserve sells various quantities of government bonds to the private sector through a process called
A) bond recall procedures. B) open market sales. C) backflip bond investments. D) voluntary redemption procedures.
Describe the political marketplace. Who are the participants, what do they do, and what is a political equilibrium?
What will be an ideal response?
Refer to Figure 9-5. The tariff causes domestic consumption of coffee
A) to fall by 7 million pounds. B) to rise by 6 million pounds. C) to fall by 27 million pounds. D) to rise by 20 million pounds.
A Pigouvian subsidy
A. cannot exist with externalities. B. is the same thing as a Pigouvian tax. C. is measured in terms of Pigouvian dollars. D. moves production to the socially optimal level of output.