In the figure above, which of the following is true?
i. Governments coordinate economic activities of households and firms.
ii. Governments buy goods and services in goods markets.
iii. Households pay taxes directly to firms.
A) i and ii B) only i C) only iii D) ii and iii E) only ii
E
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Refer to the scenario above. If Ron has the right to listen to music at night, how much does his neighbor need to pay him to stop playing music?
A) Any amount above $5,000 B) Any amount below $3,000 C) Any amount between $3,000 and $5,000 D) Any amount between $5,000 and $8,000
Why is there a price markup over marginal cost in monopolistic competition?
What will be an ideal response?
Federal government spending as a percentage of GDP was the highest since 1960 during: a. the Great Depression
b. the aftermath of the oil crisis in the Gulf nations. c. World War II. d. the aftermath of the Great Recession.
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.