In the figure above, the minimum price that must be offered for the 5,000th pizza a day to be produced is
A) $6.
B) $10.
C) $8.
D) $2.
E) $4.
A
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
The budget deficit is defined as
A) T + (G + TR), and this is negative. B) T - (G + TR), and this is positive. C) T - (G + TR), and this is negative. D) T + (G - TR), and this is negative.
High inflation that persists beyond the ending of expansionary policies is probably ________
A) demand-pull inflation B) Humphrey-Hawkins inflation C) cost-push inflation D) a result of unemployment remaining below the natural rate E) none of the above
Which policy is likely to be the most efficient in dealing with automobile emission pollution?
A. Subsidizing research and development for alternative forms of transportation B. Voluntary emission control guidelines C. A mandatory requirement to reduce pollution D. An emission tax