This graph depicts a tax being imposed, causing demand to shift from D1 to D2. The deadweight loss associated with the tax imposed in the graph shown is:
A. equal to area CBD.
B. equal to area ABC.
C. due to the decrease in consumption from Q1 to Q2.
D. equal to area P1DCP2.
B. equal to area ABC.
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Economists would predict that if salaries increased for engineers and decreased for MBAs, fewer people than before would go to graduate school in business and more than before would go in engineering, ceteris paribus
a. True b. False Indicate whether the statement is true or false
Is this the correct definition of GDP when measured by production? "GDP for a nation's economy is all goods and services produced domestically in a year."
a. Yes b. No
What is the relationship between imports and unemployment?
What will be an ideal response?
The quote, "If I have seen farther than others, it is because I have stood on the shoulders of giants" is attributed to ________
A) Albert Einstein B) Paul Romer C) Friedrich Nietszche D) Sir Isaac Newton