There will be an increase in supply when
A) a consumer's income increases.
B) there is an improvement in technology.
C) the demand curve shifts.
D) the market price rises from $3 to $4.
Answer: B
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If a household has a single woman and three kids, has a standard deduction of $6,300, has itemized deductions of $10,650, and personal exemptions of $12,000 (3*$4,000), then the first ________ of income is federal income tax free.
A. $18,300 B. $22,650 C. $16,850 D. $28,950
If the probability a firm is being embezzled is 5 percent and the estimated potential cost to the firm from embezzlement is $250,000, what is the expected cost of an audit failure?
A) $12,500 B) $25,000 C) -$15,000 D) $15,250
Which of the following will cause a reduction in the debt-to-GDP ratio?
A) an increase in the real interest rate B) an increase in the ratio of the primary deficit to GDP C) an increase in the growth rate of output D) all of the above
Find the largest nominal deficit that the government can run without raising the debt-GDP ratio, under each of the following sets of assumptions:(a)Suppose that real GDP is 20,000 and remains constant, nominal GDP is initially 30,000, inflation is 4%, and the debt-GDP ratio is 1.2. (b)Suppose that nominal GDP growth is 5% and outstanding nominal debt is 1500.
What will be an ideal response?