Refer to the figure above. What is the producer surplus after Barylia opens up to free trade?
A) $225
B) $550
C) $750
D) $900
D
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For a perfectly competitive firm, marginal revenue is
A) less than the price. B) greater than the price. C) equal to the price. D) equal to the change in profit from selling one more unit. E) undefined because the firm's demand curve is horizontal.
In the above figure, the indifference curves indicate that the two goods are
A) perfect complements. B) perfect substitutes. C) ordinary goods. D) normal goods.
A & H Deliveries earned about $500,000 less than usual this year because of a downturn in the economy. The company also had to pay $200,000 less in taxes this year because their income and payroll were smaller. The decrease in taxes A & H had to pay during the downturn is an example of _____.
a. the crowding-out effect b. automatic stabilization c. discretionary policy d. a recognition lag
Refer to the information provided in Figure 25.1 below to answer the question(s) that follow.
Figure 25.1Refer to Figure 25.1. A movement from Point A to Point D can be caused by
A. a decrease in nominal income. B. an increase in nominal income. C. an increase in the interest rate. D. a decrease in the interest rate.