In order to sell more of its product, a monopolist must
a. lobby the government for a subsidy.
b. lower its price.
c. advertise.
d. enact barriers to entry in related markets.
b
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If net taxes fall by $80 billion, we would expect
A) the government deficit to fall by $80 billion. B) household saving to rise by $80 billion. C) household saving to fall by more than $80 billion. D) household saving to rise by less than $80 billion.
Which of the following is included in GDP?
a. burglar alarm purchases b. crime c. traffic congestion d. income equality
Changes in the output of a perfectly competitive firm, without any change in the price of the product, will change the firm's
a. total revenue. b. marginal revenue. c. average revenue. d. All of the above are correct.
The introduction of a tariff will be expected to
A. reduce imports. B. increase the prices of exports but have no effect on the level of imports. C. reduce the prices of exports but have no effect on the level of imports. D. increase exports.