Figure 4-24
Refer to . The amount of tax revenue received by the government is equal to the area
a.
P3 A C P1.
b.
A B C.
c.
P2 D A P3.
d.
P1 C D P2.
a
You might also like to view...
What are the different types of price discrimination?
What will be an ideal response?
According to liquidity preference theory, an increase in the price level would ________
A) increase the demand for real money balances B) decrease the supply of real money balances C) decrease the real interest rate D) all of the above E) none of the above
If the exchange rate between the Canadian dollar (C$) and the U.S. dollar ($) changes from 1C$ = $1.30 to 1C$ = $1.05 we can say that:
a. the U.S. dollar has depreciated with respect to all the currencies across the world. b. the Canadian dollar has appreciated with respect to the U.S. dollar. c. the U.S. dollar has appreciated with respect to the Canadian dollar. d. the Canadian dollar has depreciated with respect to all the currencies across the world. e. the Canadian dollar has appreciated with respect to all the currencies across the world.
Opportunity costs exist for
a. households but not businesses or governments. b. businesses but not households or governments. c. businesses and households but not governments. d. households, businesses, and governments.