An economic boom in the United States will tend to cause booms in other countries because as U.S. GDP rises, U.S.
A. tariffs will automatically fall.
B. exports will rise.
C. imports will rise.
D. exports will fall.
Answer: C
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Advertising costs
A) make the marginal revenue more elastic. B) shift the ATC curve upward. C) shift the marginal cost curve rightward. D) indirectly shift the marginal cost curve upward. E) affect the marginal cost but not the total cost.
We know the following about a tie manufacturer: tie sales $1,300, cotton purchases $750, wages $400, interest on business loans $100, and profits $50. What is the contribution to GDP of this producer using the income approach?
A) $550 B) $500 C) $450 D) $400
The median-voter theorem suggests that:
A. voters tend to vote with a "mob-mentality," all voting the same. B. Politicians always receive more votes in general elections when they appeal to extremists in their party. C. the middle voter is generally influenced by the side they have more information on concerning an issue. D. politicians maximize their votes by taking the policy position preferred by the median voter, under certain conditions.
The figure below shows the market for computers in a small importing country. Dd and Sd are the domestic demand and supply curves of computers, respectively.
The consumption effect of the tariff on computers is worth
A. $76 million. B. $78 million. C. $2 million. D. $4 million.