Government saving refers to ________
A) tax revenues minus transfers minus government purchases
B) tax revenues plus transfers minus government consumption
C) the saving rate times transfers
D) national plus private saving
E) none of the above
A
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Suppose you are on a committee seeking to increase revenue from your city's bus system. If demand is _______, you would recommend raising the fare
a. perfectly elastic b. elastic c. unitary elastic d. inelastic
Network effects occur is the costs of production are lower than the costs of production
Indicate whether the statement is true or false
As long as P>AVC, a monopolist maximizes profit by producing the quantity at which
a. MC=P. b. MC=MR. c. MR=P. d. MR=ATC.
The supply schedule shows the relationship between price and quantity supplied
Indicate whether the statement is true or false