When was the first U.S. paper currency, the greenback, created?
a. During the Revolutionary War
b. During World War I
c. During World War II
d. During the Civil War
e. During the war of 1812.
D
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Sammy has a drone that he values at $1,500. Dean values the same drone at $2,000. Sammy decides to sell the drone to Dean for $1,800. If the government imposes a $350 tax on the sale of drones,
A) Sammy and Dean would not be able to complete the transaction. B) Sammy and Dean would still be able to complete the transaction. C) the tax would cause a deadweight loss of $500. D) Both A and C are correct.
China imports ___________ from the U.S. compared to how many goods the U.S. imports from China.
A. less B. more C. about the same D. practically nothing
In perfectly competitive markets, economic profits
A. send a signal to other producers to enter the market. B. will decrease the industry supply curve. C. could also be called explicit costs. D. will increase the industry demand curve.
A lower real interest rate, amount of consumer debt, and personal taxes ________ personal consumption expenditures
A) increase B) decrease C) have no effect on D) none of the above