In the above figure, the firm is breaking even at points
A) a and c.
B) b and d.
C) c and d.
D) a and d.
B
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As a result of the rightward shift in the demand curve for labor from LD0 to LD1, the equilibrium level of employment ________ and potential GDP ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
The above figure shows the market for blouses. The government decides to impose the sales tax on sellers, as shown in the figure. What is the deadweight loss?
A) $10,000 B) $20,000 C) $30,000 D) $40,000
A(n) _____ is an increase in wealth caused by an appreciation of the value of an asset that an individual or corporation owns
a. inflationary gain b. profit c. capital gain d. accelerated appreciation
A professional gambler moves from a state where gambling is illegal to a state where gambling is legal. Most of his income was, and continues to be, from gambling. His move
a. raises GDP. b. decreases GDP. c. doesn't change GDP because gambling is never included in GDP. d. doesn't change GDP because in either case his income is included.