A variety of statistical studies based on the U.S. experience suggests that when government borrowing increases by $1, private saving rises by about
a. 10 cents.
b. 30 cents.
c. 50 cents.
d. $1.
b. 30 cents.
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Refer to Figure 9-3. What is the area of domestic producer surplus after the imposition of a quota?
A) B + C B) B + E + I + J + M C) B D) E + I + J + M
Which of the following statements is the MOST accurate? The law of one price states
A) in competitive markets free of transportation costs and official barriers to trade, identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency. B) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in the same country must sell for the same price when their prices are expressed in terms of the same currency. C) in competitive markets free of transportation costs and official barrier to trade, identical goods sold in different countries must sell for the same price. D) identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency. E) in competitive markets free of official barrier to trade, identical goods are sold at the same price regardless of transportation costs.
A firm's demand curve for investment is its
a. marginal resource cost curve b. marginal product curve c. marginal revenue curve d. marginal rate of return on investment curve e. supply of loanable funds curve
For government to correct for the failure of market outcome, it must do all of the following except:
A. act only if the marginal costs exceed the marginal benefits. B. have the ability to do something positive about the problem. C. recognize the problem. D. have the will to do something positive about the problem.