Refer to Figure 7-2. The tariff revenue collected by the government equals
A) $10 million. B) $15 million. C) $19.875 million. D) $35 million.
B
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A ________ between price and quantity sold because ________
A) monopoly faces a tradeoff; to sell a larger quantity, it must lower its price B) monopoly does not face a tradeoff; it controls market entry and can sell at any price and any quantity C) natural monopoly faces a tradeoff; it can always price discriminate D) natural monopoly does not face a tradeoff; it is a price maker E) perfectly competitive firm faces a tradeoff; it is a price taker
If consumers suddenly became more optimistic ________
A) they would spend more at any given inflation rate B) planned expenditures would decline C) the aggregate demand curve would shift to the left D) all of the above E) none of the above
Terry wants to sell his car and the lowest price he is willing to accept is $3,000 . Alice likes the car and is willing to pay at most $4,000 for it. What is the headroom for them?
a. Prices up to $1,000 b. Price range between $3,000 and $4,000 c. Prices above $4,000 d. Prices below $3,000
Most observers nowadays see monetary policy as much less important than fiscal policy
a. True b. False Indicate whether the statement is true or false