One can determine the consumers' surplus if the _______________ are known
A) tax paid
B) maximum buying price
C) price paid
D) maximum buying price and price paid
E) maximum buying price and tax paid
D
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What is the goal of fiscal policy, and what tools have policymakers traditionally used to conduct fiscal policy?
What will be an ideal response?
Other things equal, granting unemployment benefits or welfare benefits to striking workers
A) reduces the likelihood of a strike since management will be more cooperative. B) reduces the costs of a strike to workers and will increase their willingness to strike. C) reduces the likelihood of a strike since union workers make wages significantly above unemployment benefits or welfare payments. D) increases the willingness of management to permit a strike.
If society were to experience an increase in its available resources its production possibilities frontier would:
A. shift out. B. shift in. C. not move. D. become convex.
Advances in productivity per acre can harm farmers by
a. reducing the uses for their farm goods b. increasing the price of farm goods, thereby reducing incomes c. increasing supply, thereby reducing farm prices and incomes d. increasing the demand for their goods so that consumers are priced out of the market e. decreasing the number of acres cultivated per farm